Skip to main content

Full text of "International Herald Tribune , 1994, France, English"

See other formats


.■ . I 

. r • 


'pa*, 


rtnS&ttsud's oiw 

SB&£^s$&' 


Hcralb 


INTERNATIONAL 


w 


ISribu 






gS tt5 “ d » Ph°Q> 

6=«s3? 

EHMi-Ss 

vMomicdlo. 

^;= ■ □ : 

S*w taro oc a m :,2«w 

« after findina 
r fil-5eaf-oid coun-j-^^. 

?*2 

W« Bobbin, whose ^ 

tihobdofThiioenij ’ 

wasdriven v j° d . ^ 

* formally diar^d jrf “*k 

k bcaune his 


Less than tu< 


months afij,! 


" Zr* X ifl«nas.:i 
BS 0Fe« Samcoor?. ig l", 1 


UTEmik, ££ “j?* 11 * 

£**“ !f "' * «ui 
ma/h Lmi>. :-, lsd a .- 

t t»J>. sy. • - . 

snAe-frcc- Va**- '«.,“■ 

■“-*- • ifiw. jjr 

MBmuci a u P 

U 1* a*jij r.i, .-.Kdi 
ri waniee !.- cr.* r-t? 
jcpb rcr..- “Jrrr::^ v. 
atiaiH v »v*:r.* 


intf.rmatiosii 

CLASSIFIED 


- 

deny : : 

SS 7.- « 

Karasr-i^rr:? 


PA 

rt =ii- 

SteOe" ■ -<tz 

s* 


a .-pr.* 



+-*-T 



i&srs £” ' : 




ms* 4 » 


*i ;i * . ,,,. t N 


«ry 

*» ■ _ . 


^ *»-**-* 

P4M** 

£„... 

ftf •• 

if' 

.-*■»- ■■ 

* 


«. J«Ik' j “ , ' r * • 

feUfW’* 1 ' 


PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


*&> 


It 




Paris, Friday, May 13, 1994 


No. 34,587 


EH^ipc^SS 

' Moand ia ife 

at Bobbin _v f r - 


By Alan Friedman 
Paris JT WMmal ««»m tvaht 

own have wairfI^ Ce ^ & i. nt r w *** wcr,<rs money 
nation as EJS? ^ “*»»** **3- 

against ihe5in^ri« a5 fS ppcd slumbI «* 
Pv . CUrrencies of Gennany and Japan. 

diopSWS 6 "IS* 5 of ^ dollar, which 
occEES a «.?* I0M0 - ven « L bas 

haveWc] Uf Sl H of economists. Many 
reflect**! ,i,„^ ^ al doB^s slump, in pan, 
back to Janan huee ?*** of “wwroem funds 
E!hS r f d out °f to United States, 
iw-^ had , pded up in the 1980s. 

FebmS? whe^^ii!; 8 ’ “£ resl rates since 
its shiftier? 1 Fcdcf al Reserve signaled 
tinn_T? b&hter monetary policy the infla- 

Finally, the current mriuludbSai con- 

Bond Markets 

Second-Guess 

Bundesbank 

By Brandon Mitchener 

International Herald Tribune 

FRANKFURT — It often seems the 
Bundesbank -can do no right 
Politicians around the world welcomed the 
Goman central bank’s decision Wednesday to 
cut its two leading interest rates to their lowest 
levels in years, a move that win undoubtedly 
hdp spur economic growth. 

The bond market and some economists, how- 
ever, have reacted as if the august institution 
had thrown its credibility to the wind by cutting 
official interest Rites months before high infla- 
tion and money supply figures settle back to 
desired levels. 

Critics cited a 20 percent rise in benchmark 
German government bond yields since the be- 
ginning of the year as tangible evidence that 
markets question the Bundesbank’s ability to 
control the factors that might fuel inflation 
several years from now. . 

If that risk becomes reality, they say. the 
Bundesbank’s recent interest rate cuts will have 
jeopardized Germany’s traditional reputation 
as the gravitational center dictating monetary 
stability throughout Europe. 

To be sire, lots of experts attribute rising 
bond yields to external factors and believe that 
the Bundesbank can still be trusted to do what 
is best for Gennany. 

‘'We think they are aware of the risks,” said 
Gfinther Thumamu a German economist at 
Salmikm Brothem in London. 

Nevertheless^ i^ is natural to expect that the 


of Roller Coaster Seems Over for Dollar 


vinced — until just a few days ago — that the 
U.S. administration was haj^y to see the yen 
appreciate against die dollar as a weapon de- 
signed to force the Japanese government into 

trade concessions. 

The dollar’s roller-coaster ride brought it 
perilously close to a record low against the yen 

~ NEWS ANALYSIS 

and saw it lose considerable ground to the 
Deutsche mark late last month before 17 of the 
world's leading central hanks launched coordi- 
nated action in an effort to reverse its down- 
ward trend. 

Now, the currency market appears to have 
finally entered what many economists believe 
to be a slow- me lion turn that should lead to a 
stabilization of the doDar's value. Although 
more trading volatility, even turmoil, is possible 


in the shon-ienn, there are several factors that 
suggest that the dollar has begun to bottom: 

• The central bank interventions of April 29 
and May 4. which cost some $5 billion, have 

been accompanied by unusually explicit state- 
ments by the stewards of world monetary poli- 
cy. The goal was to persuade markets that the 
United States and its " wm trading partners ore 
serious when they say they win do battle against 
any further dollar depredation, 

• Japan’s overnight money rate has been 
nudged gradually downward as the Bank of 
Japan has injected funds into the system, and 
senior officials in Tokyo have spoken publicly 
of the prospect for future interventions “as 
appropriate.*’ 

• The Bundesbank slashed its key discount 
and Lombard rates on Wednesday by half a 
percentage point, a large move that brought 
short-term interest rates to their lowest levels in 


five years. German interest rales, especially on 
three-month money, are now close to falling 
below U.S. levels, providing incentives for spec- 
ulators to bet on a strengthening of the U.S. 

currency. 

• There are widespread expectations that the 
Fed will raise its federal funds and discount 

rates on or before its scheduled Open Market 
Committee meeting on May 17. 

• Leading central banks appear prepared to 
launch, if necessary, more coordinated inter- 
ventions to maintain a floor under the dollar. 

But it would be wrong to assume that mar- 
kets have been calmed by this evidence of the 
conditions for a dollar recovery. Indeed, dollar 
bears are hungry for more proof that the ULS. 
currency' will be supported by policy action. 
Some traders have already begun discounting 

See DOLLAR, Page 4 


Senate Backs Lifting 
Of Bosnia Embargo 

U.S. Vote on Eve of Geneva Talks 
Sharpens Clash With Allies and UN 






Compiled by Our Staff From Dispatches 

WASHINGTON — The Senate voted. 50 to 
49, oo Thursday to require the United States to 
lift the Bosnia arms embargo regardless of the 
opposition of the NATO allies and the United 
Nations. 

The vote followed an emotional debate and 
approval by the same margin of an administra- 
tion-backed counterproposal that would re- 
quire the president to seek international agree- 
ment on lifting the arms ban. 

The future of the two proposals was unclear. 
The House of Representatives has not yet act- 
ed, and the legislation requiring unilateral lift- 
ing of the arms ban seems unlikely to go far in 
the House. 

The Senate’s moves nevertheless undercut 
President Bill Clinton a day ahead of interna- 
tional talks in Geneva among the United Stales, 
Russia and several European countries on bow 
to resolve the Bosnian war. 

French calls for imposing a peace settlement 
cm Bosnia were rejected by American officials 
this week. 

But Foreign Minister Alain Jupp& of France, 
visiting Washington, continued Thursday to 
urge the United States to put pressure on the 
warring parties to accept a peace plan, prefera- 
bly one of their own, but if not. then one 
developed by the major powers. 

After the Senate’s actions, Mr. Juppi called 
the idea of lifting the arms embargo “almost" 
the “worst solution." 

The tensions underline a difference in views: 
The Europeans say it is time to acknowledge 
that the Bosnian government has lost the war, 
and to push through a compromise settlement. 
American officials seem loath to agree and 
suggest that the arms embargo against Bosnia 
be lifted. 

With the allies that far apart, the stage is set 
at Geneva for another appeal for another cease- 
fire, but with no dear sign that the Serbs and 


■the Muslims are willing to lay down their guns. 
The conference on Friday could cotudude with 
hopefulp latitudes but no plan for action. 

Mr. Clinton has long favored lifting the em- 
bargo on arms so that the Bosnian Muslims can 
defend themselves against Serbian attack. But 
he has been unable to persuade the North 
Atlantic Treaty Organization allies, some of 
whom have peacekeeping troops on the ground, 
to go along. 

The Senate Republican leader. Bob Dole of 
Kansas, proposed the go-it-alone plan. He said 
that the arms embargo, imposed against all of 
(he tanner Yugoslavia, did not apply to Bosnia, 
now a separate state, and that it was illegal 
because it abridged Bosnia's right of self-de- 
fense under the UN Charter. 

The Bosnian government has long sought a 
lifting of the embargo. Mr. Dole produced a 
letter received Wednesday from the Bosnian 
prime minister, Haris Silajdzic, that said: 
“Without securing a balance of power, that is, 
arming the Bosnians, there can be no peace " 

Senator Joseph I. Lieberman, Democrat of 
Connecticut, who co-sponsored the legislation, 
called the embargo immoral and illegal. 

He asked: “How many more Bosnians are we 
going to allow to die before we stand together 
with the victims of this aggression and shout, 
‘Enough! 1 ” 

The Senate Democratic leader, George J. 
Mitchell of Maine, seeking to head off support 
for Mr. Dole's plan, proposed that the presi- 
dent seek the agreement of the NATO allies 
and then seek a UN resolution lifting the em- 
bargo. 

Mr. Mitchell said unilateral action would 
lead to other countries lifting sanctions that the 
United States supported, including those 
against Iraq and Haiti. 

“We can't take the position that others must 

See BOSNIA, Pag? 4 


U.K. Labor Chiefs Death. 
Stuns a Surging Party 




ting interest rates eutiqh some dangers, add, 
investors are therefore ngbt to be^ wary, econo- 
mists said.; • 

Mr. ThomMiri, a fMmer Genaut Finance 
h&iistry official, said the Bohdesbahlds wagff 
that lowering short-term interest rates would 
encourage investors to pal their money in non- 
inflationary, longer-tennassets was “arcredibk . 
hypo thec " hut also contained a considerable 
number of pitfalls. 

The Bundesbank cosduded in April that it 
had to raise the opportunity coa of bolding 
after enduring months ra criticism fhatits . 
own tight policy had distorted its dwlbaromo- 
ter of inflation, the M-3 money supply, ft J»ed 
the same argument on Wednesday to defend us 
half-percentage point cuts m the discount and - 
Lombard rates to their lowest levds smee 1989. 

“Under the prevailing conditions, we believe 

— contrary to before — that we can better get 

these funds to move to long-term myesments 
by lowering short-term toter«trates t a 

Bundesbank spokesman said TJ^sday, ex- 

p laining the Central banlds new conviction. _ . • Moultcm KJua»'A*r°cr Fraaor-Pira 

Htoitno one — including the Bundesbank—- FLdtHNG TO JERICHO — A Palestinian shepherd and Iris flock passing the new Jericbo-Israeli border crossing on Thursday, 

knows how far yields on short-tenn jg T imfe, flie Palestine Liberation Organization appointed three prominent peace negotiators to the self-rule government. Page 4. 

See GERMANS, Page 12 



»' 


By William E. Schmidt 
and Richard Stevenson 

New York Times Service 

LONDON — John Smith, the shrewd Scot- 
tish lawyer and leader of the opposition Labor 
Party whose political acumen and personable 
style made him the man believed most likely to 
become Britain's first Labor prime minister 
since 1979, died Thursday after suffering a 
heart attack at his London home. 

The sudden death of Mr. Smith, 55, came 
only a week after his party bad rolled to huge 
gains across Britain in local town and county 
elections, the high point so far in a Labor 
revival that began when Mr. Smith took over as 


fered glowing tributes to an opponent best 
remembered for his good humor and compas- 
sion. 

Prime Minister John Major, who often came 
out second best in verbal duds with the acerbic 
Mr. Smith in the House of Commons, described 
his rival as “an outstanding parliamentarian." ) 

“In public, we frequently dashed in the heart n 
of debate," Mr. Major said. “In private, we met ® 
often and amicably." ® 

The political fallout as a result of Mr. Smith’s ,j 
death remains undear. Vernon Bogadnor, a 
professor of government at Oxford University, 
said Mr. Smith would not be easy to replace, j 
because he lent Labor an “image of authority e 
and respectability” that it had noi had in earlier -a 


leader in 1992, after the party’s fourth consecu- 


*'*•■*'* ' 




Live national election loss. 

Mr. Smith collapsed with chest pains on 
Thursday morning as be was preparing to set 
out on a day of campaigning for elections to the 
European Parliament next month. 

The news of Mr. Smith's death stunned Brit- 
ain. Queen Elizabeth II offered condolences to 
Mr. Smith’s wife, Elizabeth, and three daugh- 
ters. Many of his Labor colleagues wept openly 
outside Parliament, and his political rivals of- 


Kiosk 

German Thugs 
Battle Turks 

MAGDEBURG, Gennany (AP). — 
juSSst extremists on “a hunt for foragn- 
o^stonred Turldsh-nm food stmds on 
^urtdayTaad the Turks fottbt tack with 

ESmTSi'i struggle thatjStat least six 
nmnle wounded, the police said. _ 

mdee was among the most violent 

In attack on fOTe^erampM- 

“"Hju Germany and the worst for 
aSopital 120 kitomam 
SSrfBerliiL “ThcShtisl otoji 
wes 01 hunt far foreigners, said Burk- 

P 0 ^ s P otean % : 

rampage in to a iyce»«. 

Bvkto** £££ 

Bridge . Ptige2a 

Crossword ^ 

Weather ' 


As Stand on China Collapses, Clinton Tries to Save Face 


By Daniel Williams and Clay Chandler 

Washington Pea Service 

WASHINGTON — President Bill Qin ton’s threat to pun- 
ish Hima with trade sanctions if it fails to improve its record 
on human rights has all but collapsed in a jumble of cross- 
pmposes, second thoughts and mistaken assumptions about 
the ease of reaching compromise with Beijing. 

T-ess than a month remains before Mr. Clinton must decide 
whether to revoke China's low-tariff privileges, known as 
most-favored-natkm status, based on progress in seven hu- 
man-rights categories. Within a matter of days, Secretary of 
State Wkrren M. Christopher is expected to send the president 
his assessment of China's performance. 

The overwhelming consensus of independent human-rights 
or ganizations is that China’s record has not improved, and that 
in some areas it has worsened But revoking China's tariff 
status is increaangly viewed as the economic equivalent of 
dropping ah atom bomb: too devastating to contemplate. 

Even members of Congress who last year supported a tough 
Hue on China have begun to get cold feet. Revocation would 
severely attain relations and cost millions in American busi- 


ness, they fear. Mr. Qin ion’s top advisers are scrambling id 
improvise a dignified retreat Tbe objective now. many admin- 
istration officials say. is to find a “middle ground" solution 
that demonstrates Mr. Clinton's human-rights concern, but 
does little or no damage to trade. 

Halfway measures would represent a retreat from Mr. Clin- 
ton’s executive order last year, in which he threatened to yank 

Grina warns of retaKathm if the United States withdraws any 
of its trade benefits. Page II. 

China's low-tariff privileges unless Beijing made “overall sig- 
nificant progress" in human rights. 

“The issue now is that of saving face Tor the president." said 
Running Garrett, a senior associate at the Center for Strategic 
and Internationa] Studies. 

A s enior adminis tration official described Mr. Clinton as 
irritated over the outcome of his policy. He said “intensive 
dialogue” was continuing with China in hopes of eliciting 
additional concessions. 

Mr. Clinton’s need to live down campaign rhetoric has 


become a recurring foreign-policy nightmare. He attacked 
President George Bush for “coddling" dictators and pledged (o 
support lough legislation aimed at forcing Chinese progress on 
human rights. 

The evolution of Mr. Clinton’s China policy has been 
marked by defects evident in other troubled efforts: issuance 
of a threat that was easier to make than carry out; an inability 
to set or stick to priorities; misplaced faith in the goodwill of 
adversaries, and indiscipline among contending voices in (he 
adminis tration, undermining any impression of resolve. 

Tbe deeper f ailing , though, was a reluctance to recognize 
that U.S. leverage over China was extremely limited. 

Opinion is growing inride and outride the administration 
that Mr. Clinton should cut his losses and move on. Unlike 
Bosnia, Somalia or Haiti, China is regarded as central to 
W ashing ton’s for eig n-policy concerns. A botched relationship 

could affect issues as diverse as the spread of midear weapons, 
the stability of East Asia and global warming. 

American exports to China last year totaled $8.8 billion, far 
below China's sales of 530 billion to the United States. But 

See CHINA, Page 4 


Voter-preference surveys in recent months 91 
have given Labor a commanding lead over Mr. £ 
Major’s faltering Conservative government, m 
and many of Mr. Smith's political allies on 
Thursday spoke of him as the prime minister 
they never had. t, 

“It is a desperate, desperate injustice be never o 
got the chance," said Neil Kinnock, whom Mr. j ~ 
Smith succeeded as party leader after Labor “ 
was beaten by Mr. Major and the Conservatives *_ 
in 1992. k 

Biyan Gould, a party rival of Mr. Smith's, 
said his death left “a huge hole in the Labor - 
Party. 

“He was destined to become prime minister ” 

Mr. Gould said. 

In a survey conducted in late April by Mar- 
ket and Opinion Research International, Labor 
was the choice of 47 percent of those polled; the 
Conservatives had 26 percent, and the Liberal 
Democrats 23 percent 
Margaret Beckett, 51, the deputy leader of 
the party, now takes over the leadership. Many 
privately regard her as a caretaker until a new 
leader can be selected; Labor officials insisted ; 
that they would not consider a formal replace - 1 
ment for Mr. Smith until after the European i 
Parliament elections. \ 

Among the possible contenders to succeed 
Mr. Smith are Tony Blair, 41, who is Labor’s 
spokesman on domestic policy; Gordon 
Brown, 42, the opposition spokesman on the 
economy, and John Prescott, 55, the transpor- 
tation spokesman. 

Along with his droll wit and razor-sharp* 
mind that made him a formidable opponent in 

See LABOR! Page 4 


rs 

8 j **f 4 
■rtesaw 


0.54% 


More Grand Prix Racing Horror 

Austrian Near Death After Crash in Monte Carlo 


On the Nose , Barbra Hits It Right 


Andorra- 

Antilles 

Cameroon-, 

Egypt...-' 

France—- 

Gabon- — 

Greece — * 
Italy “-r-r 
ivory Coast. 
Jordan-— 

Lebanon- 


- — 

T4998 

J04Jg5 

1 — - 5.715b ' : S721 

T j^esslqnd Pr ices IZ 
9.00 FF Luxembourg « L. Fr 

j^K-SSSsjfe 

P P 5000 RdoraoiwU^JfJ 

_?* 0 CFA ifipTAS 

^oo Dr. 5 P^.[q"'\looo Din 

-’•^oyre xl 3S,a» 

-bs VS StgTarJB-% 


MONTE CARLO — The pall hangmg over 
the sport of Formula One racing darkened 
Thursday when the Austrian driver Rari Wend- 
lmgar was critically injured while warming up 
foe. this weekend's Monaco Grand Prix. 

He crashed on the first official day of racing 
the. three-time world champion Ayrton 
Senna was killed May 1 at the Italian Grand 
Plix. Another Austrian driver, Roland Ratzen- 
berger, had died after a crash 24 bourc before 
Soma's. 

Wendlinger, 25, was in a “very serious coma" 
with; head injuries raffered when bis Sauber- 
Mercedes hit a barrier while he was wanning up 
before the opening qualifying session for the 
Mdote Cute race. 

^lt*S vOTserious/* said Robi Quet, an offi- 
daliif75Smf t RDch Hospital in Nice, where 
Weridfiager was- taken. “Wc don't know if he 


win five. Rirfit now the doctors are speaking 
with his family and girlfriend." 

Another hospital official, Dominique Gri- 
mand, told French radio later "The prognosis 
is extremely serious. There is a danger of com- 
plications and modi depends on what happens 
in the next few hours." 

Wendlinger, coming out of the Loews tunnel 
on the fastest part of the Monaco street circuit, 
hit the banters ride-on as he braked going into 
the chicane. 

The Sauber team said data from the car failed 
to reveal a technical defect, but noted that 
WendHnger braked 13 meters (14 yards) later 
than he had on the previous lap. 

Craning out of the tunnel, drivers usually 
reach a speed of about 300 kilometers per hour 
(185 mph) before slowing down to less than 60 
kpb for the turns. 

Knocked unconscious in the crash, Wend- 

See RACING, Page 19 


By Henry'AUen 

Washington Past Service 

WASHINGTON — Barbra Streisand has been a 
nose revolutionary, a nose nationalist and liberator, a 
preacher of proboscis pride, a nostro-terrorist, a 
prophet who saw the pert, snub, freckled, upturned, 
tidy, tiny, cute little all-American carport-perfection 
cheerleader popularity of the ideal nose personified by 
Doris Day back in the 1950s, and she bloodied it. 

“I kept my nose to spite my face," she sings in “I'm 
Still Here," with new lyrics by Stephen Sondheim. 

No bobbing, no jobbing — at least in the sense of 
some suburban monument to rhinoplasty. More than 
100,000 people a year g« nose jobs, and there is 
nothing mysterious’about the rales they are obeying: a 
bridge descending ai a 38-degree angle from the face, 
down to a tip projecting at up to 110 degrees of 
snubness from the upper lip. the Rule of Fives, the 
Rule of Thirds. ..... 

Not for Barbra. "Are you checking to see if 1 had a 
nose job?" she was heard io say to someone studying 


her through binoculars during her Washington concert 
Tuesday night. 

Such an odd organ. So utterly prominent, so easily 
hurt, so easily ridiculed. Failure and humiliation are 
summed up in the phrase “bloody nose." 

A big, interesting nose stands for sex. arrogance and 
mysiery, three things that make our puritan democra- 
cy nervous. In a nose that is bony like a raptor's beak, 
it implies passion, energy, aggressiveness and a preda- 
tory aloofness. The Doris Day nose implies enthusi- 
asm rather than passion, pep rather than energy, 
passivity rather than aggression. A big nose is serious. 
A little nose is sincere. Big is powerful little is popular. 
Big is singular, little is one of tbe crowd. Big is ethnic, 
little is not. 

But Basil Rath bone was not ethnic, and be had a 
nose that looked like a ritual knife from a Neanderthal 
excavation. Consider the rapacious aristocracy of the 
nose of Virginia Woolf — big, but so delicate you 
imagine from pictures that it must have moved a little 

See NOSE, Page 4 






Page 2 


INTERNATIONA I- HERALD TRIBUNE. FRIDAY. MAY 13, 1994 



Pa 

I- — 






iv.:’-. 


Worst Fears Easing, South African Whites tfasten to Adapt 


By Bill Keller 

Nr# York Times Service 

JOHANNESBURG — The day after 
Nelson Mandela's inauguration, white 
South Africans looked up to discover 
that the African sky had not fallen. 

True, they had a black president, a 
slew of Communists in Parliament and a 
former guerrilla leader for minister of 
defense. 

Some noticed, too, that the black pop- 
ulace seemed to be a little more sure of 
itself, a little more alert to the slights of 
light-skinned compatriots. 

But so far. the feared legions of town- 
ship Visigoths had not descended on 
thar shopping centers, and no political 
malcontents had begun the predicted civ- 
il war. 

$0 whites are hastening to catch up 
with the new reality, struggling with the 
lyrics of the new national anthem, enroll- 
ing in Zulu classes and crowing about 
what a splendid man Mr. Mandela 
seemed to be. as if they bad always 
thought so. 

“He is. without doubt, an outstanding 
h uman being and leader and. as we have 
sajd before, our future is in good hands." 
the daily Citizen said in an editorial. 
Until recently, the newspaper had viewed 


the advent of majority rule with an end- 
of-empire trisiase. 

Whites who had taken an open-ended 
holiday — “to watch the explosion from 
a safe distance," as one travel agent put it 
— have been flying home. Others phoned 
renovators to do that long-postponed re- 
modeling. with the idea that they might 
just stay here a while longer. 

“It’s just such a relief,” sighed CaryJi 
Stanbridge, the secretary at Peter Pan 
Nursery School in the leaf}' suburb of 
Sand ton, where white parents bad orga- 
nized an emergency postelection evacua- 
tion n roced ure in fear of what Mis. Stan- 
bridge described as “unruly crowds 
coining over the hill" 

No unruly crowds came to pillage, and 
political violence took a holiday. 

With due white racist fringe depleted 
by police sweeps after a series of pre- 
election bombings, and with the Zulu 
nationalists appeased by their victory in a 


school standards and the prefect of 
hig her tax es, but the participants are less 
certain about whether they will actually 
go. 

“It’s turned out more positive than we 
expected, so this is just an option." said a 
speech therapist who came with her hus- 
band and about 20 others to an emigra- 
tion session at a hotel near the airport 
“It was a bit of a panic before." said 
the woman, who declined to give her 
4 We can look at it more logically 


provincial election, the new government 


las assembled in a country closer to 
peace than anyone can remember. 

The moving-company seminars that 
tell frightened whites how to immigrate 
to New Zealand are still drawing custom- 
ers anxious about high crime, falling 


name, 
now." 

V nsimusi Baloyi’s seminars in .African 
languages, on the other hand, have been 
teeming with enthusiastic whites since 
the elections. 

He said that “there is a lot of demand 
and excitement" from whites who never 
bothered before because they regarded 
blacks “as shadows.” 

Now. he said, “they feel left out in 
conversations." 

After listening to the new national an- 
them. “God Bless Africa." broadcast 
during inaugural events, white callers 
were suddenly paying close attention toa 
song they long regarded as the property 
of the liberation movement. 

A white woman suggested on a radio 
talk show that the government publish a 


phonetic version for citizens who stumble 
over Lbe three African longues of which it 
is composed. Another, questing for the 
etiquette of the new order in 2 letter to a 
local paper, noted that blacks tended to 
sing the’amhem in the militant posture. 

“Is the clenched fist necessary?" the 
writer wondered. 

Whites will have to adjust to blacks 
whose spires have been stiffened by citi- 
zenship. 

In recent days, black deliverymen 
dropping off packages in white suburbia 
paused confidently to discourse on the 
political future. 

A black woman, elbowed aside by a 
white lawyer as he dashed from a down- 
town elevator, stepped out and froze him 
with a rebuke, "hie stood sheepishly, 
clutching his document case, as she re- 
minded him of hi* manners in English, 
wiih asides in Zulu r or the benefit of 
black bystanders. 

“Blacks are nol automatically moving 
out of the way when you walk down the 
street.” said Andrew Miller, who works 
for a literacy project in Pretoria. But he 
noted that many black South .Africans 
could not shake the deferential habit of 
addressing whiles as “Madam” or 
“Boss." 


After so many yews as, in Mr. Mande- 
la’s inaugural words, “the skunk of the 
world," South Africa is reveling in reha- 
bilitation. 

"Now we can sing ‘Die Stem’ at sport 
without being ashamed,” said Gary 
Brownlee, 16, a high school student 

“Die Stem van Suid-Afrika,” or “The 
Call of South Africa,” the Afrikaans 
poem long reviled by blacks as a vestige 
of apartheid, tuts now been rehabilitated 
as co-anthem of the unity government. 

“I don’t know why, but Uxky when I 
went to school 1 felt much better, and 
safer." the student added. 

Said a woman at the emigration semi- 
nar: “I've shrugged off a reeling of guOt 
that I didn't know was there. Ibere’s so 
need to be patronizing anymore.” 

The Reverend Jesse L. Jackson, who 
headed a delegation of American observ- 
ers during the elections two weeks ago, 
said white college students be met had 
exulted in the prospect of being OJL 
Maybe Michael Jackson would come, 
they said, or Michael Jordan. 

"These young white students were tell- 
ing us. ‘We’ve been freed,’ " Mr. Jackson 
recalled. “They can now look forward to 
going to Europe and America without 
feeling ashamed.” 


WORLD BRIEFS 


China Lukewarm to New U*K. Envor 

BEUING (AFP) — Chins gave a guarded Mtaomr**- * * * 


chance of Chmese-BritiA coopganoa over 
The new envoy, Lea Appieyaid, previously a political duecS^J 
Foreign Office; will take over in September from Robin McLaren *^ 
retiring. “We wdoomfrMr. A u 

in China,” said 


"Although China and- Britain cannot cooperate oq 
K ong’s constitutional nrfami,” he said, “the Chinese si 
cooperate with the British side in other Gelds, like Hong 

Russia Criticizes WEU Offer to East 


MOSCOW (AFP) — Ute Russian Foreign hfimstiy ‘criticsedifi-' 
Western European Union.; on Thursday for offering ateachite ntanbej. 
ship to nine central and eastern European countries, saying 
threatened to create a new break in Europe. - 
“It is a mistake not to take Russia into account,” mid a 
spokesman. Mikhail Diemurice, referring to the WEUriScr Moodafth 
Poland, Hungary, the Czech Republic, Slovakia, Bulgaria, 

Petpfiin, l iihuan'ia and Latvia. : v v ‘ ?; * V* - 

Associate memberahin in the WEU. the mflitatv arm of 
Union, would bring the nine countries doser to European 
planning but stop sum of giving them guarantees offrifiEtay' snjncttif 
they were threatened or attacked. 



Armenia-Azerbaijan Trace Fails 

MOSCOW (AP) — Military representatives of 


and Nagorno-Karabakh signed a cease-fire agreement, bin AmSS ' % /*. ¥ * u-a 

forces on Thursday immediately accused Azerbaijan of violating thenar » / f f f I J WM 

reoneniwhiditodceffertatinidriighiWediBe^lay.waiiE^ in V ( W I l 
neoting the Russian-brokered truce and peace plameiK^S . .Wf/r c J 


Iran Said to Send 

to Bosnia 

Shipment Going Via Croatia 


Weap 


VWl** 


By John Pomfret 

Washington Pott Service 

SARAJEVO. Bosnia- Herzegovi- 
na — In a conspicuous violation of 
the arms embargo on the nations of 
the former Yugoslavia, an Iranian 
Air Force transport plane loaded 
with at least 60 tons of explosives 
and other raw materials for weap- 
ons production landed in Zagreb 
last week as pan of a deal between 
Croatia and Bosnia to resume co- 
operation for more fighting in the 
Balkans. Western and Bosnian 
sources say. 

The arrival of the 747 cargo 
plane on May 4, two days before 
the Iranian foreign minister, Ali 
Akbar Velayati. visited the capitals 
of Bosnia and Croatia, is a strong 
signal of Iran’s enduring commit- 
ment to Bosnia's Muslims and its 
desire to influence events in the 
region. 

Mr. Velayaii presented the Bos- 
nian president. Alija Izetbegovic. 
with a check for SI million and 
credits for 10,000 tons of diesel 
fuel 

Mr. Izetbegovic told reporters 
that “while we cannot tell all the 
details now,” the Bosnian govern- 
ment's “fight for freedom" would 
be “less successful if there was no 
Iran and its aid" 

The shipment, which foreign 
diplomats and Bosnian Muslim 
sources said was the first in a series 
of intended wea pons-related tech- 
nology transfers from Iran, provid- 
ed a potent illustration that despite 
Western efforts, the arms embargo 


Bosnia Serbs Set 
To Free French 
Aid Volunteers 


Reuters 

SARAJEVO. Bosma-Herzegovi- 
na — Bosnia’s Serbs moved Thurs- 
day to defuse a dispute with 
France, indicating they would free 
11 French charity volunteers ac- 
cused of smuggling arms for the 
Muslim forces hidden in an aid 
convoy. 

The Bosnian Serbian news agen- 
cy, SRNA, reported that the Serbs' 
leader. Radovan Karadzic, had 
“decided to find a legal form for 
release" of the aid workers follow- 
ing the intervention of the interna- 
tional peace mediator Lord Owen. 

France, which has the largest 
contingent of United Nations 
troops in Bosnia, warned the Serbs 
they could face a war crimes tribu- 
nal if they put the aid workers on 
trial. 

In military developments Thurs- 
day, a UN military observer was 
killed and another wounded in an 
explosion while they were on patrol 
north of Sarajevo. 

A UN spokesman said it wns not 
clear whether their vehicle struck a 
land mine or was hit bv a shell. 


on Bosnia and Croatia has sprung 
leaks. 

With the recent rapprochement 
between Croatia and Bosnia, sever- 
al senior Western officials said they 
believed these leaks could tuns into 
a stream. 

Infantry assault weapons from 
Brazil and a Chilean-made anti- 
tank guns are among other items 
also turning up in Bosnia from un- 
known sources. 

An open question is whether 
such weapons will be able to 
change the course of the war. But 
Muslim officers say that even the 
small amount of weaponry entering 
Bosnia has improved the situation 
for them on the ground. 

“Tanks are not a problem for us 
any more," said a high-ranking 
Muslim officer, citing recent bat- 
tles in northwestern Bosnia where 
Muslim forces claimed to have 
pushed back Serbian troops. The 
officer brushed off a recent Muslim 
defeat in Gorazde, spearheaded by 
a Serbian tank assault. 

According to Bosnian and West 
era sources, the Iranian Air Force 
plane arrived in Zagreb canying 40 
containers of explosives, fusing 
equipment and other raw materials 
for the production of mortars and 
different types of ammunition. The 
boxes were marked “Humanitarian 
Aid" and “No Smoking." 

The Croatian defense minister 
denied that the goods were weap- 
ons- related. insisting that they were 

h umanitarian aid. 

A phalanx of Croatian Interior 
Ministry personnel surrounded the 
plane, witnesses said, adding that it 
was similar to an Iranian aircraft 
that tried but failed to deliver 
weapons to Bosnia's Muslim fight- 
ers in September 1992. 

At that time, the cargo plane 
reportedly landed with 4.000 ma- 
chine-guns and a million rounds of 
ammunition but was not unloaded 
immediately. American officials 
confronted Croatian authorities 
and persuaded them to impound 
the arms. 

The first plane's cargo dallied in 
Zagreb because relations between 
Croatia and Bosnia were rapidly 
deteriorating, leading to arguments 
over who would get how many 
guns. Less than a month after the 
incident, war erupted in central 
Bosnia between Croats and Mus- 
lims. 

On May 4, however, no such 
problems occurred. The plane was 
unloaded quickly and lbe cargo 
taken away in Croatian trucks. 

Under an accord hammered out 
in Washington in March. Bosnia's 
Croatian and Muslim factions 
agreed to stop their yearlong war 
and form a federation with a joint 
government and a joint military 
command. 

Bosnian military sources said 
these agreements, bolstered by an- 
other accord signed in Zagreb 
weeks later, set the basis for re- 
newed cooperation on getting 
around the arms embargo. 




The agreement, which took effect at midnight Wednesday, wasamwi 
at implementing the Russian-brokered truce and peace plan -] 
last week in the Kyrgyz capital, Bishkek. Azerbaijan and 
initially had said the truce would take effect last Monday. Bat both safes 
imtTKxliatdy violated it, accusing the other of firing fast- . . . 

. t , j. .. Just hours alter the agreement was signed late Wednesday, Nagano- 
. ' Karabakh authorities accused Azerbaijan of violating the trace. They said 

■ ■ ! * •'» • * 'if W their fighters had repulsed an Azerbaijani offensive ur the eastern part e# 

Nagorno-Karabakh, Irifimg 30 Azerbaijanis. The six-year wirier Nag®». 
Karabakh, a mountameus Asneman enclave within Azerbaijan, has KBed 
more than 20,000 people and kf t more than I million refrigees. 



Troops in Berlin Begin Good-Byes 


-.2 v>“.? -5 




BERLIN (Reuters) — Bertia residents an 

anniversary of the end of a Soviet blockade that was foiled By the U&fed’ 
Berlin Airlift, and the start of ceremonies for the puOoutof the Westen 
allies who protected the dty through the Cold War. 

British forces opened their Berim military headquarters for .die fist 
time to be hist of a “Farewell Festival,” ignoring a dispute between 
Russia and the allies over how to celebrate me final withdrawaTof thar 
troops. The event served to mark the ide of British, F rench ted 
American forces in defending West Berlin; the 12,000 Western -sn fc&w 
will be gone by the end of the year. 

Across die city at the Trapelhof airport monument to tire ta/SSi, 
Mayor Eberfaard Diepgen laid a wreath to commemorate at kast 78 
airmen and others known to have died as part of the 462-day operation. 




_ -,ti ■ 

J'T— - 




>••■ v 


r -- 

. _-•£ 

' • ;*W5 

— • JSt t* 


cap- 


For the Record 


Iran sad it strongfr protested to Britain on Thursday after fmdiog what 
it alleged was a listening device inride a wall of its newly rcfuibisfcd 
embassy in London. (Roam) 







• • ;« --nr.. 

- 

j" STn 

; 7. . C • • 

. ; . -*. VA “SC 


' .... 

_ " . 


£’t" 

■t.-i-atjpa 



Virtual Amab\/A|OK( Francxl 

Yemenis at the civilian airport near Aden, in the southern part of the country, after it was destroyed in air strikes by northern fortes. 


TRAVEL UPDATE 


y 2 Sides Claim Control of Key Yemen City 


Greece Drops Club Closing Hours 


ATHENS (Reuters) — A law that required nightclubs to dose at fixed 

iouths is brag lifted, at least for the 


Compiled by On r Staff From Oisjnucfeo 

SANA Yemen — Yemen’s op- 
poring armies both claimed net cry 
Thursday in the fight for a strategic 
southern city. 

A statement from the southern 
forces said they seized Dhalea. 
which is 100 kilometers 160 miles) 
from the southern bastion of Aden 
on a main route from the north. 

But northern officials also said 
they controlled the city. The claims 
could not be independently veri- 
fied. 

The north since Saturday has 
said it was on die verge of seizing 
Aden, an assertion that dearly was 
exaggerated. 

It is impossible to teD who has 
the upper hand; northern forces 
backing President Ali Abdullah Sa- 
leh or supporters of former Vice 


President Ali Salem Baid. the 
southern leader. 

In Aden, the military command 
issued a wanting to civilians to 
move away from districts m the 
northern dues of Satfa. Ta'izz and 
Huddaidah. where General Saleh 
and his relatives lire. 

The threat was broadcast on 
Aden radio a day after a Scud mis- 
sile attack killed 23 people and 
wounded 30 in a residential area .■'f 
San'a. The attack appeared to he 
the bloodiest against civilians so far 
in the civil war that started May 4. 

Western journalists visited 
northern-controlled approaches of 
DhaJea just across the forme: 
north-south border on Wedne>day 
and reported fierce artiller, ^nd 
tank duds. Commanders reported 
heavy casualties on both sices. 

The reporters said General Sa- 


leh' s forces were pushing in tank 
reinforcements to the Dhalea front 
but appeared to be making little 
headway. 

The southern military statement 
'•aid southern forces had taken con- 
trol c? Dbalea and that northern 
forces fiitC retreated 10 kilometers 
north of the city. 

Bu: San'a television quoted 3 
northern officer as saying northern 
forces had seized Dhalea. Qatar's 
news agency 3lso quoted the 
north's information minister. H as- 
sart Ahmad Lawzi, as saying that 
northern forces had gained control 
of Dhalea, the town of Kurush to 
the east and a point close to BaJ a! 
Mandab. near the old north-south 
border at the southern entrance of 
the Red Sea. 

Foreigners continued to flee on 
Thursday. A Foreign Office official 


said in London that about 100 Brit- 
ish men. women and children were 


being flown from San'a to Cyprus. 


As the fighting continue 
meni envoys from north and south 
were trying to woo Arab friends 
and neighbors. Mediation efforts 
focused on an Arab League team 
that headed for San'a by road from 
Saudi Arabia to try to arrange a 
trace. 

Both sides say they would talk to 
mediators, but the north appeared 
reluctant to accept a trace that 
would in effect allow Mr. Baid to 
continue ruling Aden in defiance of 
General Saleh. 

Southerners led by Mr. Baid 
have called for the disengagement 
of forces to borders that existed 
before North and South Yemen 
merged in May 1990. 

(Return, AP) 


hours and set off rioting by Greek ycut 
summer, to help bolster tourism. Tourism Minister Dionysos Lbanos 
announced. He expressed hope Wednesday that the law wold be lifted 
permanently. It banned unescorted teenagers under 17 from going to duhs 
and required chibs to dose at 2 AJVL on weekdays and 3 AAL onweekeods. 

Scores of Greek youths have been gathering at Syntagma Squsv in 
central Athens every weekend after the dubs dose, partyin&danang to 
loud music from car radios and stripping. There were severaidaies with 
riot police. 

Lufthansa wffl open two routes to Madias and Calcutta in July fofl ow- 
ing a civil aviation agreement signed Tuesday in New Ddhi between 
India and Germany . Lufthansa already flies to Bombay and New De&L 
Air India will get reciprocal flight access to Berlin and another German 
city of its choice, ‘ (AFX) 

Rabat taxi driven went on indefinite strike Thursday to protest a 
government decree requiring daily inspections of the country's antiquat- 
ed taxis by the police, and technical tests four times a year insteadaf two. 
Drivers say this dooms cars over 10 years old — virtually the entire taxi 
fleet — to the junkyard. (Radenj 

An Air New Ze al an d Boeing 747-100 wide-bodied jet rode a jet strao 
to set a record crossing of the Tasman Sea from Sydney to Auckland on 
Thursday, the airline said, covering the 1,335 miles (2,143 kflametefsj.in 
one hour 54 minutes, beating by three minutes the previous record by an 
Air New Zealand Boeing 747-300 three years ago. AFP) 




fell fll in the( 


Saddam, to Destabilise North Iraq, 
Said to Order Attacks on 



ers 


L L* ask the butler... 


, kjr 


5 * I - N ■ G - A - P- O - P ■ E 

W /-KrfUVWiro.. 


By Caiyle Murphy 

HoiAiRgrcM P<a: Semcc 
SALAHUDDIN. Iraq — Recent 
attacks on foreigners in Kurdish- 
populated northern Iraq stem from 
a renewed Iraqi government effort 
to weaken the Western presence 
and intimidate the Kurdish leader- 
ship. according to Kurdish and 
Western security officials. 

Although United Nations and 
Western relief officials have been 
harassed in the past, particularly in 
1992, the attacks that began in 
March have been better organized 
and executed, the officials said. 

They include tite murder on 
April 3 or the German freelance 
journalist Ussy Schmidt: a ma- 
chine-gun attack March 27 on a 
bus canying 50 United Nations 
guards that wounded two of them, 
and the wounding of two other LtN 
guards, one of them seriously, in an 
attack on their car. 

Two Kurdish employees of a 
Western aid agency were also seri- 
ously injured in an attack on their 
agency vehicle, and there have been 


other minor incidents invohins 
UN vehicles. 

“We've gone to a new level” of 
violence, one official said. 

As a result, at least one Western 
relief agency has delayed the return 
of its personnel to northern Iraq, 
and some agencies ha%e not re- 
placed departing r-taff member.-, 
another Western official ?aid. 

Those who remain have tikea 
security measures that inciudc 
wearing bulletproof vests and trav- 
eling in convoys accompanied by 
Kurdish militiamen. Karim Sinjan. 
chief of the Kurdish government's 
security service, traced the attacks 
direr. to President Saddam Hus- 
sein of Iraq. 

Mr. Sinjari said that, according 
to information he received Mr! 
Saddam met in early March with 
four senior security' officials, in- 
cluding his son Qosai. shortly be- 
fore the UN Security Council’ con- 
ducted a periodic review of UN 
sanctions against Iraq. 

The Iraqi leader reported-^ As- 
serted that if there was no progress 


on lifting sanctions, they “should 
do their best to make Kurdistan 
into another Somalia" for Western- 
ers. Mr. Sinjari related. A bounty of 
$10,000 was offered for each for- 
eigner killed, he added. 

The Iraqi government has denied 
responsibility Tor the attacks, at- 
tributing them to “bandits” operat- 
ing as a result of the Kurdish gov- 
ernment's inability to maintain 
security. 

The attack on the UN guard bus 
“was a radical departure'' from 
previous harassment of Western- 
ers, another Western security offi- 
cer said. The assailant*, hiding in 
trenches on both sides of the road, 
opened fire on the regularly sched- 
uled shuttle bringing UN guards 
from Irbil to Baghdad just before 
the Aski Kalak crossing point into 
Iraqi-held territory, he said. 

A week later. Miss Schmidt a 
stringer for Agence France-Presse. 
was gunned downed with her 
Kurdish driver as they drove out- 
side the town of Suiaymaniyah. 


Senate Chief Blames Neofascist 

Party Leader Prompts Foreign Alarm, Italian Says 


Reuters 

ROME — The speaker of the Italian Senate said 
Thursday that he understood European concern 
over the presence of neofascists in Italy’s govern- 
ment, and that the neofascist leader. Gianfranco 
Fini, was partly responsible. 

The speaker. Carlo Scognianrigjio, whose posi- 
tion is the second highest in Italy after the presi- 
dent, said a remark by Mr. Fini last month that 
Benito Mussolini, the wartime fascist dictator, was 
the “greatest statesman of the century" had helped 
promote foreign alarm. 

“It was an inopportune remark, which bad a 
very negative effect on public opinion," Mr, Scog- 
niatmglio said. ’To recall one name can have more 
of an impact than 100 speeches.” 

His comments contrasted with a dismissive re- 
jection of European fears by Prime Minister Silvio 
Berlusconi on Wednesday night. Mr. Berlusconi 
called them the product of “bad faith and disinfor- 
mation.” 

Mr. Scogniamiglio, 49. is a member of Mr. 
Berlusconi's Forza Italia party. 

European concern has been fanned by Mr. Ber- 
lusconi’s appointment to his cabinet of five mem- 
bers of Mr. Firn’s National Alliance, which, along 
with the separatist Northern League, is a coalition 
partner of Forza Italia. 

The National Alliance is a conservative front 


whose core party, the Italian Social Movement, 
traces its roots to Mussolini. Three erf the five 
ministers, including Mr. Fini. are members of the 
movement. 

Mr. Scogniamiglio said the National Alliance 
was a rightist European movement that was not 
fascist Bat he added, “Nobody can pretend not to 
know that it derives from the MSI, which in tma 
has its roots in the fascist experience.” 

"In Italy, we know the representatives of (be 
National Alliance well and we know they. hare 
notinng to do with fascism," he said. “Butootade 
Italy, memories of what fascism was remain.” 

He said unemployment, which had led to tiro rise 
of fascism and Nazism in the 1930$, posed a 
greater danger to democracy m Europe fh*n any- 
thing else. 

Mr. Fmi, 42, has said his Mussolini remark was 
an historical judgment. He said in a published 
interview on Wednesday that fascism had “fin- 
ished in 1945” and that the thread that had tied 
him to the ideology had been broken. 

Meanwhile, a former health minister, Francesco 
De Lorenzo, was arrested Thursday in connection 
with inquiries into graft in the nati onal health 
service, his lawyer said. 

Mr. De Lorenzo, health minister from 1989 to 


1993. lost his parliamentary immuni ty last month 
elections. 


after general 



. .w-sssJ 

34 

• VK *£ 

-.-seat; 

■ 

■■ . -rsvsa 

. .. 

■ ■ : 

. . • •&::& 


St 


fc. 


* " * 

•• # :-v- 

• VTiS* 

■{ 

’•2 ’ 









- nit 

-*" ”»• «■?!» 

- j - ■ 

- *v ■'•Jdt 



'■ 

' « 

- 

i 

• - . r- 

r *-5- - 3T tiUS 


’ 'i.r is; 


' rejuiis w 

e-*^'-.c.:-. .. 

; 

^ L-5; “ *. 

* * •'*.-'«? ** :a 
• 7 6a 

■*_- it* «i2s» 

■ u 1 


: byv- : :v.-:- 




To call from country to country, or back to the U.S., dial the WorldPhone number of the country you're calling from 

n '&r. .. Crams* ..... ' ' 57 


Amiga* 

lArnbHc from public vJrcphor^ or.lv 


Argentina* 
Ausiria'CC 
Bahamas 1 Ci: • 
Bahrain 
Bdgmni’CC 
Brnnuda-i- 

Bolivu* 

Braid 

Canada 

Qrvnum bland* 
Chile -:o 

Colombia' ‘C * 
Co«a Rica* 


«-sW>3;.|]H 

i*av£->-io0c 

Jvo-oo; 

OrOO-iifcii: 

AJP-W12 

i-rOy-cZT-JWrt 
WW-lSIs* 
VSiMS-V ■’ 


Cvpnis* 

C=ech Republic 

Denmark 1 . ’ • 


Dominican RrpuMic 
Ecuador* 


EgypoCiT 1 * 

-I CJt-j. dull cl 
El Salvjilnr* 

Finland '*.' ' * 

Francr or* 

Gambia* 

Germany- 1 j. • 

[Liinii'.il a.-aibM.I' r:-, 

Greece- 

Greruda-j- 


' , ‘-0. , .J,V«cS 
•>i -2-00UI 12 

i -t'tO-i 

it- 1 


-T 'i i ',jj.V70 
luT. 

wavi-Iv! jO 

l-lT-lM. ]u 

oo-l'*. 1 

.'I l; UK*! 2 
■*.- vt :rrwn. f 

i-s.v.r I 


Ciuu-nuia* 

IlliljlLc'.T 

Honduras* 

Hungary.' C'* 

Iceland* 

IrcLmJ'i'-- ■ 

IsravKc ■■ 
lulv- * 

Jamaica 

Krnv.i 

hi'l. lr >m in.vs m,i|..rcinr. ) 


ISO 

•X>l.SXXM-»4.|234 
001 -SiK'-r>r s-TiVH) 
<Xiw-S.AH'H!l 
W-tlp’ 
I -SOO-jj- 1 W1 
I T7-1 50-2727 
17M0C2 
3(K‘i.J>74.riX)0 


i.iLchtcnMcin 1 ' 
LuvnnScurg 
Mrxinu 
Monaco 1 « 




rtSUOl I 
1 55-0222 


NetherbindftCOt 
Nclherfinds Ami lies CC4- 
Ntcarugna< CO 
lOuiwde of Managua, dul 02 first.) 
Norway* CO* 

Panama 

Miluan- Bases: 

Paraguay-i- 

PemiOuUidc of Lima, dal 1W fiis i 
Poland) CO 
PartugillCD 
Pueno Rlcotco 
San Marl noted* 

Slovak RejniblicfCO 
South Africa) CO 


06AJ22.9l.22 
00 1 -800.950- 102 2 


166 

SOU-19912 
108 

2810-108 
008 - 1 1-800 
iX . 1-190 

0T -01 -m -800-2 22 
05-017-1234 
1 - 800 - 888-0000 
172-1022 
00 - 42-000112 
0800 - 99-001 1 


900 - W-OOM 
191-qflT-OOOt 
020 - 795-922 
155-0222 


SpaintCO 
Sc Luda 
Sweden (Cd* 

SwttzcrbndtCCl* 

Trinidad fg Tobago 
(SPECIAL FHONES ONLY) 

United KingdomlCO 
To call the U 5. using BT 
Tj call the Ui using MERCLW OW-&0-222 
To call anywhere other than the USOSOfrSOMO^ 
Uruguay 000-412 

U 5. Virgin IslandsiCC) 1-800-888-8000 

v»rie*n City iCO 1X5-1022 

Ventaida4t 800- 111 40 


0600-69-0222 

OSrtMSO-222 


I'se tout MCI Card.' local telephone card nr cal] 

- ealtof. rwiLr-r: M.r. r.-i j-^i. 

-ir.ri.-.-.T.. Jfpl, 4 - Limn, „ , -..IjhU;- V . f|i 

» r 4 j*<- .-Jv lair d-prno; .<■ Till ’I .;.-, 1 
* •• x.wU*-». ;,i-ni pirli. jxr: r h p. 


collect ..all at the same low rales. 

m j'I t-.-a: -n- '..-nan 

! liwl ' r. A wjibStr It .11 l_\l ■ ',TT I. 

' ■"►•'Utwral ..nro iM.rf.-s.-.jmrr 

:np'i" .1. ;-.i „..n r n.« i^.j j u ,| ( „ n 



’ONE 


Let It Take You Around the World. 

From MCI 


Impnme pur Ofipn.M. 'j rm dv I’Exunyile. "SO IS Paris. 


ffiEFS 


FSr* tnv ov 

ft wcfcQHvr Thuredfl.. 




SSgBriXBhlg^Sil 


Sfegfi** <* % 

flHSJ?* s . oU wiibiS 

pfertoEast 

g™"* saji^ ^ 


gflHMlnt.” said a min . 
t^cWEU offer 




ws of Aimcrdi Aze-r,-.;- 
Umnaen, ha 

tRSSfeS 

saars-TS 

Bass** 1 ®! 

■^jte Wednooay. \^. 
wUuag Uie a pa*, r^i .f » 

emunheeastera^S 
ncsx-year war /V \ -.'-tl • 
■Abm Azcrboj-i- nJiS 
iMSBonrefusiS UlJ * 


Good-Byes 


"Htesday marked tiv 
at was foiled h>. ** <_ VV 
’ the pufioui ;-f Lhe v, - .'Z 

Id War. 


^headquarter;. :. - r._ 


noros a cur.-? ' 

nr fmaJ *iihcri™. -* .£; 
fc-tf Br.Uai r .-?- 

ffle 12JDQ0 Wi.d-.-T v .£ 


i mpr«qicr.4 u- ,r- 1 _- - 
'CMBMnK:.:!; .•,•-* 
0 of ihe 46 :-c.-- . .' 


Rtqfria* af-r- 1 -. 


ilf’tff-.rs r.-r- 


5ATE 


ring Hour- 


aariUsdur? :• 
bafif *f •«. 

r>, 

pt sisc 


>--T -. 


«vr ■-= ■- 


itiCmrxu 

&& N*’- • '■'■ : _’- 

*®OK-*< -.- '-■•••-■- 

iKtlES^ f ."■-■■■ r 


Spew- - -r..- ' 


ie<!wKir- •■ 
^ ■ 

lttle* 

irtw 7 - r-- - 


iseisf 


Han Say 


lute &«•■ 
•**—-- 


Iki**?-..- 
r w*£ "' 
tpE/** 

»*«■*'*• 
Mr*ia~ -" 

if S* 


iHin- • 


INTER NATION U, HER ALP TRIBUNE. FRIDAY, MAY 13, 1994 


$33 

L**-*^ > >1 




Prize- Winning Vietnam Veteran’s Personal War Ends in Suicide 


By ^ enl Jea ^ s Jr. 
Washington ' ws ^' w . 

woiuids” that the Vi« T, he terrible 

fcaj^gsassiE 


pai wall ere initially prescribed \ 
turning pain from his wounds. 


ington. TOmc “ suburban Wash- 

bothhSds'wS h? 1 **“ lcgs and pans of 
land SSW on an enemy 
He bSESfig* “ a Marine in 1968. 
the physitauS mX?** ? sln, SSlc with 
war into a PuhiM^Pri, 011 ^ r ^ vages of titat 
raphy. Priafr-wuinuig autobiog- 

W** 199 ' !«*. “Fortunate 

ssmiTattaut*; 


Fnends said he and his wife, Linda T. 
Puller, had separated shortly before his 
death. *Tb the list of names of victims of 
Uie Vietnam War, acid the name of Lewis 
ftnler," Mrs. Puller said in a statement. 

He suffered terrible wounds that never 
really healed." 

Mr. Puller "was a man who had done a 
great job of trying to come out of the 
shadow of that war," said William Styxon, 
the novelist who had known him since the 

late 1970s. He was an early and influential 
champion of Mr. Puller's book. 

Mr. Puller's suicide “is a terrible sequel, 
it seems to me," Mr. Styron said. “Bui 
maybe it's more symbolic than ever of the 
horror of that war. Even after his triumph, 
it still prevailed and killed him." 

Though Mr. Puller spent only a short 


time in combat, his life from beginning to 
end never strayed far from the armed ser- 
vices. His father was the legendary Lewis 
(Chesty) Puller Sr., whose heroism in the 
Pacific during World War II made him the 
most decorated Marine in history. 

The younger Puller went to Vietnam as a 
Marine lieutenant and spent many years as 
a lawyer at the Pentagon. He remained a 
prominent veterans activist until his death. 
But it was Mr. Puller's harrowing experi- 
ence in Vietnam that defined his lue. After 
the land mine explosion of Qa 11, 1968. 
which riddled his body with shrapnel, he 
lingered near death for days, and his 


who had lost a leg in combat. The two had 
been close friends ever since. 

“He was a hero who overcame tremen- 
dous obstacles, and he gave a lot of people 


dous obstacles, and he gave a lot of people 
hope," Mr. Kerrey said Wednesday- “It's 
sad that his own writing, which inspired so 


sad that his own writing, which inspired so 
many people, in the end could not move 
him." 


weight at raw point dropped to 55 pounds, 
about 25 kilograms. He survived, those 
who knew him say, primarily because of his 
iron will. His physical recovery brought 
new agonies. 

He spent two years in a Philadelphia 
veterans hospital, where one of his fellow 
patients was Bob Kerrey, now a Democrat- 
ic senator from Nebraska, then a navy Seal 


“The ground fell out from under him." 

For years after Mr. Puller returned to 

reasonably sound physical condition, the 
emotional ground underneath him re- 
mained shaky. Though he got a law degree 
and mounted an unsuccessful campaign 
for Congress in eastern Virginia, he battled 
periods of despondency. He drank heavily 
until 1981, when he underwent treatment 
for alcoholism. 


By Mr. Puller's own account, the source 
of much of his strength over the years was 
his wife. Shortly after be returned from 
Vietnam, he urged her to divorce him but 
she refused In his book. Mr. Puller de- 
tailed one suicide attempt that be said 


Semite’s Gift Limits 
Set Up Rules Fight 


By Helen Dewar 

Washington Past Service 

WASHINGTON — A grumpy 
but image-conscious Senate voted 
to ban members of Congress from 
accepting meals, trips or gifts from 
everyone but friends and family, 
setting the stage for a struggle with 
the House of Representatives over 
how far to £0 m curbing favors 
from special interests. 

The Senate was reluctant to shed 

what Senator Russell D. Feingold, 
Democrat of Wisconsin, called the 
“mother of ail perks," but anxious 
about a backlash from voters if it 
did not It approved the le gislatio n. 
95 to 4, after fending off efforts to 
weaken its key provisions. 

The bill now goes to conference 
with the House, which approved 
less-extensive restrictions on gifts 
as part of legislation to strengthen 
lobbyist registration requirements. 
Lobbyist requirements, too, have 
also been approved separately by 
the Senate. 

Sources in both houses said the 
House would probably balk at 
some of the Senate's most stringent 
provisions, including its proposed 
ban on expense-paid trips to posh 
charity. events. But they said agree- 
ment cm what could be the most 
far-reaching lobbying restrictions 
in a half-century was fikely because 
of heavy presoue froin voters. 

The bill, . "would change_ House . 
and Senate rul'es io bah membera 


U.S. Will Test Veterans 
Who Fell HI in the Gull 


By Eric Schmitt . 

Hew York Times Service 

WASHINGTON — The Penta- 
gon will soon conduct intensive 
medical exams on hundreds of vet- 
erans of the Gulf War who are., 
suffering from unexplained Alness- 
es, according to the military’s se-' 
nior medical officer. 

The offidaL Dr. Stephen C Jo- 
seph, the assistant secretary 01 de- 
fense for health affaire, smdm an 
interview that doctors at U.S. mih- 
tary medical centers around the 

world would give afflicted veterans 
2Q to 30 diagnostic tests. He said 
the tests could start in the next few 

"^Dr^ Joseph, who was New York 


nw’s health commissioner from 

19fe to 1990 , said docton ; ™ad 

s&fla'ssss 

sSs-ȣ?8E' 

^Snice the war endedm February 
1991 ° wire than 20000 veterans 
i*»i, . . th _ veterans 


including 


lUKWb, — ' 

ins. headaches, memo- 
irtncss of breath and 


rv loss, shortness or kwlu 

^spW«y preblem*. ”1““ 


department is conducting its own 
exams of Gulf veterans who have 
left the armed forces. 

•• A panel of the National Insd- 
tutes of Health recently concluded 
that the ailments were real But it 
Could identify no single cause or 
syndrome. 

A Senate committee’s condu- 
skms node public last week sug- 
gested that some of the illnesses 
might have been caused by drugs 
gjven the troops to protect them 
against chemical and biological 
warfare. 

The Pentagon's new tests are in- 
tended to be the most comprehen- 
sive so far, and medical experts 
hope the results will yield dues to 
the causes of the Alnesses, which 
have perplexed doctors. 

“We’ve set ourselves a time line 
of 120 days to get a significant 
number of exams finished. Dr. Jo-, 
seph said, “and then we ought to 
have a bettor idea of where we are." 

- He said that many veterans had 
been examined before but that the 
new standardized tests, which the 
Pentagon is devising with the Vet- 
erans Affaire Department, would 
give the service member a more 
detailed medical assessment and 
the Defense Department a broader 
body of medical histories. . 


Away From Politics 


TTTTZrthsin the United States increasalby 4 percent 
• Acddwtal dearas percentage increase m five years, ! 
86,000 iperea^ was 


for that this would "snea ugm on a. c subject’b 

said it ^j^^yjwnvicted of lames 33 men and boys, was 

by 1 ^l^ C ^iricrophones aimed at suspected drug 

#Tbe t®* nrarly 50 percent during the first year of the 

high, accorffflS. 10 * t(> all others. Or so oiibte school 

“L-crfea n cnltrae » TqVe County, Florida, followings 

gggaS8fiSBB«3S 

present state. ~ 


AP.AFP 


inse^ff ^ Jrin nichh””- 
mugs- P 0 ! 


ttflOQ cmh PW (tey PM**. CdtotHnug 
-ytanw tarn AS*)* taBte wd T*cMm 
gusMTis tram 0,900. SpKial MtgRxntfe 
nfckpMM) w»*n*d fata oonpularand 
can M Mfflmd »*> youremunm per 
mh. SwtanM m flarW tmMpwi in ihn 
, v«f a p« ml No ta— tafcyinwlMd. fin* 
U, M fort taflteanrt axjturtompmoomfl 
»yw-dt*tatoap«ta-w**au*afr 
jlcsttona. ntqtawl ■ fawMdcta ttaBnuy. 
Pfta* tor milta 
KautJapLSMrPntacti 
OWORItanUurtIMn 
■W.-HM6-74710* 
iwu 41 271* Tntaw i» M7 S»74; 






and aides from accepting gifts of 
any value — no bottles of wine, 
football tickets or dinners at expen- 
sive Washington restaurants — 
from people other than dose per- 
sonal friends or family members. 
Gifts worth $250 or more from 
friends would have to be approved 
by ethics committees. 

The relatively few other excep- 
tions would allow the acceptance of 
modest trinkets, home-state prod- 
ucts or home-staus meals and enter- 
tainment under limits to be set later 
by committees of the two houses. 

Current rules allow members to 
accept unlimited gifts worth up to 
S 100 and no more than S250 in gifts 
worth 8100 or more from a single 
source in one year. 

The bill also would bar privately 
funded travel not related to officio] 
business, including corpora tc-fi- 
nanced participation in ski, golf 
and tennis outings that draw lobby- 
ists and lawmakers for fun as well 
as fund-raising for charity. 

Efforts to scuttle the ban on free 
trips to charity events failed, but 
sponsors agreed to drop a provision 
that would have barred contribu- 
tions to legal defense funds or to 
charities in Deu of honoraria for 
speeches to outside groups. 

The House-approved bill bans 
gifts from lobbyists and their di- 
ems, bm allows meals with lobby- 
ists if they are financed by clients 
and if * nonlobbying, employee at- > 
tends. 



. . TVrit. l-j^nin TV V.tijk-d Pl.t. 

COME AGAIN? — Barbara Bush pretemting to have difficulty hearing a reporters question in Washington. She was joined by 
other former first lathes, from left, Lady Bird Johnson, Betty Ford and Nancy Reagan, at a fund-raiser fora new National Garden. 




Budget Ort» Final Approval Lobbyist’s Links Pay Off 


WASHINGTON — Congress gave final 
approval to President Bill Qimon's 1995 
budget Thursday, with Democrats hailing the 
$1.51 trillion spending plan as a road map for 
more economic growth and smaller defidts. 

“The progress is real/* said Senator Jim 
Sasser, Democrat of Tennessee, chairman of 


the budget committee, before the 53-10-46 
vote. “The American people can fed it. They 
can fed it in an improved domestic economy. 
They can fee) it in an improved international 
standing." 


The measure, approved try the House last 
week, does not need the president's signature. 


The blueprint for the fiscal year beginning 
OcL 1 calls for further reductions in military 
spending and more money for education ana 
road-bunding programs. It would also com- 
press next year’s federal deficit to $175.4 
billion — the lowest since 1989. 

Republicans complained that because the 
package contains no dramatic new plans for 
cutting spending, it would allow the shortfall 
to veer upward again at the end of the decade. 

“We have once again missed an opportuni- 
ty to send a real signal to do something of a 
permanent nature about fixing the deficit," 
said Senator Fete Domeniti, Republican of 
New Mexico. 

The budget sets broad spending limits, but 
figures for specific programs are not binding 
when lawmakers make those derisions later. 

The spending plan calls for $270.7 billion 
for defense next year, $8.1 billion less than 
this year. Education and job training would 
«t a S4.9 billion boost over 1994 to S53.7 
billion; transportation would grow from 
S37J billion to $38.8 bmion. (AP) 


WASHINGTON — Despite President 
Clinton's pledge that his friends would noi 
cash in on their ties, one of the most success- 
ful new lobbyists here is a longtime Clinton 
adviser and confidante who has pitched a 
client’s case while watching college basket- 
ball at the White House. 

Most lobbyists struggle to arrange meet- 
ings with mid-level government bureaucrats, 
and can only dream of Lhe kind of access 
enjoyed by Betsey Wright, one of the presi- 
dent's oldest friends and an architect of his 
rise to power in Arkansas. 

Last year, Ms. Wright was able to lobby 
Hillary Rodham Clinton personally for the 
60,000 nutritionists in the American Dietetic 
Association, who wanted to make sure their 
services were covered under the Clinton 
health plan. They were. And when the Ameri- 
can Forest and Paper Products Association 
was having trouble getting a meeting with j 
senior White House aide, Ms. Wright made a 
phone call, and the meeting was arranged. 

"Washington operates pretty much the 
way it has always operated."' sjid Anne 
Weider, head of the Wexler Group lobbying 
concern, who said she hired Ms. Wright part- 
ly because of her access lo the president. 

But the blunt-spoken Ms. Wright, who 
served as Mr. Clinton’s chief of staff when he 
was governor and continues to have an unwa- 
vering loyally to the president, is not trading 
just on her old ties. 

Although she chose not to work m the 
White House, she is a frequent visitor there 
and still does political work on Mr. Clinion\ 
behalf. 

She flew lo Little Rock, Arkansas, in De- 
cember — on her own time and at her own 


cost — to challenge claims that Mr. Clinton 
as governor had used his slate trooper body- 
guards to arrange extramarital liaisons. 

She has also given the White House sugges- 
tions on how to deal with the accusations of 
Paula Corbin Jones, a former Arkansas state 
employee who recently filed a sexual harass- 
ment suit against Mr. Clinton. ( N)Tj 


A Faster Track for Welfare 


WASHINGTON — Unwilling to wait for 
President Clinton to act, his Democratic al- 
lies in the House of Representatives have 
proposed a welfare bill similar to the one he 
has long promised but has yet to deliver. 

The measure would place a two-year limit 
on welfare benefits and then require indigent 
mothers to join a community service pro- 
gram. To finance its provisions, the bill seeks 
deeper cuts in benefits to immigrants than 
legislation that While House aides say they 
are likely to propose. Indeed, those cuts alien- 
ated some potential co-sponsors in Congress. 

The congressional plan comes from the 
Mainstream Forum, a group of centrist and 
conservative House Democrats affiliated 
with the Democratic Leadership Council. 

(\YTJ 


\>i; 



Page 3 


would have succeeded if his wife had not 
foiled it. 

Family friends said Wednesday that Mr. 
Puller's marriage began to unravel earlier 
this year when he began drinking again. 
Shortly before his bode won the Pulitzer 
Prize in 1992. his wife was elected to the 


Clintons Struggle 
To Ride Out Storm 


Virginia legislature and began spending 
time in the capital, Richmond. Friends sav 
Mr. Puller eventually became despondent 
over his periods alone. 

While co-workers saw few signs of Mr. 
Puller's problems, friends said he had be- 
come addicted to prescription drugs and 
was treated for the condition this year at 
Bethesda Naval Hospital, in Maryland. 

Friends also said that in recent weeks. 
Mr. Puller's drinking had become more 
intense. Jan Scruggs, president of the Viet- 
nam Veterans Memorial, said, “i talked to 
him last week, and he said. “You know, 
things aren’t going too well for me now 
because my wife has decided to leave.’ 

“He said, Tm not taking it very well.' He 
just seemed very depressed." 


Series of Allegations Leaves 
Them Angry and Distracted 


@u®fce/ Unquo'se 


Senator Bill Bradley. Democrat of New 
Jersey, on the pending federal crime bill: “It 
i> a huge heap of ideas and proposals cobbled 
together by representatives of a nation which 
it Increasingly desperate about violence. In a 
wjy. it reminds me of what u group of anx- 
ious citizens would do if they threw furniture 
and household goods onto a barricade to stop 
the invading hordes.” f.VIT; 


'f here to find the World’s 
Finest Hotels and Resorts. 


The Oriental, Bangkok 
Mandarin Oriental, Hong Kong 
Mandarin Oriental, Jakarta 
Mandarin Oriental, Macau 
Mandarin Oriental, Manila 
-Mandarin Oriental, San Francisco 
The Oriental, Singapore 
Baan Taling Ngaro, Thailand 
Phuket Yacht Qub, Thailand 
Hotel Bela Vista, Macau 




jSS - \\ l - ’ 
'■ v 




MfsPrtl* l-PIJ •• t . 
THf Mill 1 1 I 


By Jack Nelson 

Lai Angelo Times Serrur 

WASHINGTON — In public. 
President Bill and Hillary Rodham 
Clinton have remained unfailingly 
confident, patiently defending 
themselves against the seemingly 
endless questions and criticisms 
about their financial investments 
and about the president’s personal 
conduct while governor of Arkan- 


ln private, however, they are an- 
gry'. frustrated and often distracted 
by the continuing allegations and 
by what they see as a politically 
inspired campaign to discredit 
them, according to senior aides and 
others close to the Gintons. 

White House sources described 
Mrs. Clinton as privately “dis- 
tressed and consumed” by 
Whitewater, the failed real estate 
development that critics say led to 
improper benefits for the Clintons, 
and by the other controversies. 

The sources said she was “in- 
credibly angry that it’s distracting 
from health care reform." 

Mr. Clinton rails to associates 
about what be contends is “unfair 
media coverage" and attacks by 
conservative critics, the sources 
said. 

He fumes that no other president, 
has had to endure attacks based on 
events 10 or IS years before enter- 
ing the While House. 

He also insists that various alle- 
gations of financial and sexual mis- 
conduct were fully aired during the 
1992 presidential campaign, even 
though additional allegations have 
emerged since he was elected presi- 
dent, many of them at odds with 
explanations given during the cam- 
paign. 

Indeed, the appointment of a 
special counsel, Robert B. Fiske Jr.. 
to investigate the Whitewater alle- 
gations occurred in large part be- 
cause of such disparities and seem- 
ing contradictions. 

Nor does it seem very likely that 
the storms mil die down soon. 

Last week, a former Arkansas 
state worker, Paula Corbin Jones, 
filed a civil lawsuit in which she 
accuses Mr. Clinton of sexual ha- 


rassment and improper advances in 
1991. 

While the Clintons’ attorney, 

Roben S. Bennett, has dismiss^ 
Mrs. Jooes s accusations as “tab- 
loid trash," they are only the latest 
in a series of allegations or sexual 
misconduct against Mr. Ginton. 

The lawsuit raises the prospect of 
round after round of unflattering 
news reports if it works its way 
through the legal system. 

Meanwhile, conservative critics 
are keeping up their attacks, re- 


porters are sull digging into the 
Clintons’ oast congressional bear- 


Senate Backs 
Abortion 


Protest Ban 


The Associated Press 

WASHINGTON — Congress 
answered a decade of bombings, 
arson and even a killing by enact- 
ing a bill on Thursday that bans 
blockades, violence and threats 
against abortion clinics. 

“These are no longer peaceful 
protests," said Senator Dianne 
Feins rein. Democrat of California, 
as the Senate approved the bill, 69 
to 30. and sent n to President Bill 
Ginton to sign. 

“These are examples of vigilante 
extremism that mirror the spread 
of hate crimes and random violence 
in our society,” she said. 

Mr. Clinton is certain to sign the 
legislation, which would lake effect 
immediately. A total of 52 Demo- , 
crats and 17 Republicans voted for 
it. while three Democrats and 27 
Republicans voted opposed it. 

Supporters argued that protests 
had got out of hand. By one count, 
there were more than 1,000 violent 
acts at abortion clinics from 1977 
to April 1993, including 36 bomb- 
ings, 81 cases of arson, 131 death 
threats. 84 assaults, 2 kidnappings 
and one killing. 

Opponents countered that such 
violent acts were rare and were al- 
ready crimes. They said the bill was 
an attempt to thwart just one side 
in the abortion debate. 

The legislation makes it a federal 
crime to block access to an abor- 
tion clinic or to use force or threats 
against people using such clinics or 
working there. 

Violent offenders would face up 
to $100,000 in Tines and a year in 
prison for a first conviction, and up 
to 5250,000 in fines and three years 
in prison for subsequent offenses. 


Clintons’ past, congressional bear- 
ings are in the offing and key parts 
of Mr. Fiske’s investigation are 
likely to run well into next year. 

A lawyer working on Whitewater 
said that the inquiry could extend 
into 1996, at a time when Mr. Qin- 
ton likely will be running for re- 
election.' 

The Clintons stumbled in their 
early responses to (he Whitewater 
affair and resisted the appointment 
of a special counsel- But the White 
House chief of staff, Thomas F. 
(Mack) McLorty said: “We think 
we have it managed well now. al- 
though it will ebb and flow a little. 
It's not fully predictable.” 

While Mr. McLarty said he took 
solace from members of Congress 
who said they do not hear much 
about Whitewater from their con- 
stituents, he added: “It is real, and 
we take it seriously. It feeds on 
skepticism people have about elect- 
ed officials." 

While highly annoyed over the 
endless attacks, the Clintons have 
not been diverted from pressing 
ahead with one of the heaviest con- 
gressional agendas or recent limes. 
Aides argue that one of Mr. Clin- 
ton's best responses to oil the alle- 
gations is to try to achieve the goals 
of his presidency. 

A senior aide said: “After going 
through a roller coaster of polls, the 
suicide of a colleague and all the 
attacks — personal and financial 
— and allthe legislative battles, the , 
president still has pursued the larg- 
est domestic agenda of any presi- 
dent in 30 years. People will judge 
him on that." 

■ Federal Regulators Sued 

Representative Jim Leach, Re- 
publican of Iowa, has sued federal 
regulators in an effort to win the 
release of documents relating to the 
Whitewater investigation, saying 
they cannot choose to withhold the , 
material just because it might be 
embarrassing to the president. The 
Washington Post reported. 

Mr. Leach, the ranking Republi- “ 
can on the House Banking Com- 
mittee, has been seeking docu- 
ments relating to Whitewater and a ) 
failed Arkansas savings and loan, h 
Madison Guaranty, for six months. e 
Most of his requests have been do- ® 


by the Office of Thrift Supervision, 
the agency that regulates savings 
and loans, and the Resolution j 
Trust Coip- rite agency created to « 
dispose of hundreds' of failed ® 
thrifts. 

The lawsuit, filed in district 31 
court in Washington, maintains !£ 
that regulators are preventing Mr. ,n 
Leac h from fulfilling his oversight 
duties as the banking panel's rank- 
ing minority member. t. 


Royal Plaza.- 


MONTREUX 




tenia 


Duka’s Jazz bar. 
Monthly Events. 


The only grand 
hotel right on the shore 
of Lake Geneva. 


1B20 MONTREUX ■ SWITZERLAND 
T^L. 41-21/963 51 31 
FAX <91-21/963 5637 









ml ! 


Van Cleef & Arpels 


UK 0345 581442 • France 05 03 10 54 (roll fieri - Germany 01. W 858 SOS troll fieri • Spain nit ^ W 

VlifcfebeflfeffiWif, Utdl International, or your rnivel professional. 


IKKIS. GENEVE, BKl'XELLES, CANNES. MONTE CARLO, MILANO, ROMA, BEVERLY HILLS, 
H< iNOLim NEW YORK. PALM BEACH, OSAKA. TOKYO. HONG KONG, SEOUL, SINGAPORE 


nied on privacy or other grounds jf 
by the Office of Thrift Supervision, 


F 







Pa , 

l« * 


Mi 

He if < 

feyi; 

Mi 

Ml 




* ■•: : ■•■. ' • "i*-"' v - i j-‘ * f 



" V Page 4- 


IINTER NATION A L HERALD TRIBUNE, FRIDAY, MAY 13, 1994 


PLO Picks Peace Negotiators 
To Serve on Self-Rule Panel 


Compiled by Oar Staff From Disp a tches 

TUNIS —The Palestine Libera- 
tion Organization announced on 
Thursday the appointment of sev- 
eral prominent peace negotiators to 
the self-rule government that is to 
take power from Israet 

The PLO*s chief negotiator. Na- 
bO Shaath, said in Tunis that he 
had forwarded the names to Prime 
Minister Yitzhak Rabin of Israel. 

Among them are Hanan 
Ashrawi, Saeb Erakat and Faisal 
Husseini, who have been involved 
in the U.S.-sponsored Middle East 
peace talks. 

Hie authority is to have 25 mem- 
bers, and Mr. Shaath said further 
names would be added “in tbe 
coming days.” 

Tbe PLO chairman, Yasser Ara- 
fat, has been struggling to complete 
the list because of conflicting 
claims from Palestinians within the 
occupied territories and those who 
have run Palestinian rale organiza- 
tions abroad. 

The authority, created under the 
agreement signed May 4 in Cairo 
by Mr. Rabin and Mr. Arafat, will 
be beaded by Mr. Arafat. Mr. 
Shaath said. 

He said the authority included 
Palestinian leaders from both the 


Gaza Strip and Jericho and PLO 
officials Irving abroad and repre- 


that the Palestinians would take 
over Jericho and the southern pan 


seating various factions of the. of Gaza on Friday. 


group. 

In addition to Mrs. Ashrawi. tbe 
other woman named to the author- 


in four vehicles donated by the 
United States, 23 PLO officers 
came across the Allenby Bridge 


- • 

r 


ity was Intisar Wazir, the widow of from Jordan to Jericho on Thurs- 
Khaled Wazir, the PLO command- day. They arrived about eight hours 
er who was assassinated in 1988. behind schedule because of argu- 


benma schedule because of argu- 
Israeti commandos are believed to menis with Israeli officials over 
have been behind the assassination, their entry. 

Mr. Shaath said that although But then the Palestinians went 
the Cairo accord calls for a 25- on a patrol on the outskirts of Jen- 
person authority. IS could begin cho. with Israeli Army jeeps in 
functioning as a quasi-government front and back, 
under a deal made with Mr. Rabin. Joint patrols are part of the Isra- 
He also said tbe Palestinians ex- eJ-PLO agreement for providing se- 


Joint patrols are part of the Isra- 
-PLO agreement for providing se- 


pected aD Israeli forces to be with- 
drawn from the Gaza Strip and 
Jericho by Tuesday or Wednesday. 
He added that “the Palestinian po- 
lice. as well as the Palestinian au- 
thority, wOJ be fully in place by 
then." 

In another sign of the quickening 
pace of Israeli withdrawal Pales- 
tinian police on Thursday Look 
over the town of Rafa, on tbe bor- 


cunty. 

Tbe patrol went to a new district 
headquarters, where the Palestin- 
ians were given a briefing by Israeli 
officers. 

Meanwhile in Gaza, an Israeli 
truck driver and a soldier were re- 
ported wounded in two attacks by 
Palestinian gunmen in parts of 
Gaza still under Israeli control. 

In Rafa, tbe withdrawing Israeli 


der with Egypt. Tbe town, with a police and troops left the police 
population of 100.000, is the big- station and military government 



DOLLAR: Beginnmgto Bottom? . uri ( 


• ( >de& 


Continued front Fige 1 of a sarior Emopeati 
an increase in interest rates by the 

Fed, and they cm t* expected to 

maintain pressure on the collar un- co*fal ten* 

til the Fed acts, and possibly even trading becomes 

Investors in U.S. Treasny bonds ore^iaare, .. t 
are also jittery. The psnstnml m 

securities mariot has wed a hatr- 

trigger existence since the Fed's '“f™- ***** ' “ opposheSj. 


trading becomes tdo 7 v 
that were, 
once mote. '. 

. . “The Iast two'imervr 




[•’itusft 


interest! rates m 


policy shift in February, and king- shcmkjamga&ontap^ . 
tominteiestrateshavesoared.lt 5 > ' 

has been the maikefs uncertainly 


•t r ‘/i- v 


' 


about bow much and how soon die 

Fed wfl] have to raise interest rates 
to squelch any nascent inflation 
and kero the U.S. economy from 
overitotimg that has fed to the ram- 
pant sale of UJS. securities. This, in 
turn, cansed feats among central 
bankens of a generalized dollar de- 
cline last month. 

Their principa l fear, economists 
said, was that continued weakness, 
in the (Mar could heighten infta-. 
tionary pressure in the United 
States, tiros precipitating a further 
stomp in the US. Treasury bond 
mark et. That would lift long-term 
interest rates and laD the US coo- 


said. 

He added that in the Wafers ** ”* 

znccting central 


“more intervention can 

erf if Hm k trvi fit ‘ 


ed if there is too miicfrvoiat 
The range in winch the' 
had traded za -reocnt'davE h 


mmt echoed tfacoj&nS: 


US Tteasray scoaa^^g; 


recent. mtoratwos Jad me ^ - . 

cd r t m - m - 

an wwi nmiy gf 5':::*' 


nonric recovery by mating mon- Fans, w!k>, said fcacflarYw. ^ : K' 

, -i ■ , . mwTv 'omM ni^luU. - — ■ ■ ^ 




gagr., auto and business loans too covay would pi'obaMj onm-in ' 

costly. The dollar's fall could also threestagea. * •- - - t - . 


gesi to be ceded so far to Palestin- headquarters in the hands of local 


ian control. 
The PLO 


Palestinian policemen who have 


The PLO police commander, yet to receive weapons. 
Major General Nasr Yousef, said (Reuters 


(Reuters, AP. AFP) 


Frank KkafcVbMgpKc FneefieM 

TASTE OF GERMANY — President Boris N. Yeltsin sipping wine on a visit to Dddesheun, 
Germany, Thursday with Chancellor Helmut Kohl. Mr. Yeltsin also met with Rudolf Scbarping, 
leader of the opposition Social Democrats, who urged the West to treat Moscow as a partner. 


CHINA: Face-Saving Time for Clinton as Stand Falters NOSE: Streisand Faces Up to the Undoctored Truth 


damage European band markets. 

This week, the Treasury bond 
market rallied as expectations for 
the Fed rate increase spread, and 
then rambled after the quarterty 
auction of 10-year notes drew a 
weak response. Now, bag investors 
are waiting until the Treasury band ' 
market is firmly on the road to 


The fiat stage was ccrift&ftg 
mterventioo, which was -.riant - 
both supporting the UA canaiS 
and easing pressure of fey? 
turn-sensitive U.S. Treasury^ 
market. 




. Thc second stage is eoonfinifci 
interest rate a^nstmeuts 
vide credible evidence of J;:’ 


Contteued from Page 1 
China is one of the fastest growing 
markets for American goods and is 
regarded as a potential bonanza by 
such major companies as AT&T, 
Boeing and General Motors. 

A rupture in trade relations that 
leads to retaliation by China could 
cost jobs in key electoral states. 
Last month, a group representing 
400 California businesses warned 
Mr. Clinton of a potential loss of 
35,000 jobs. Administration offi- 
cials are reviewing the costs in a 
confidential impact study. 

“The reading of the business 


Lee H. Hamilton, Democrat of In- 
diana. who is chairman of the For- 
eign Affairs Committee, argued in 
favor of extending the trade privi- 
leges to bolster liberalizing trends 
in China. “We should seek ways to 


great and highly important court- Continued from Page 1 
toy- with every breath. like the belly of a 

In March, in an article primed in sleeping baby. Would Charles de 
The Washington Post, he stated, ' Gaulle have gone as far as he did 
“The character of our relationship without a nose so huge and beaked 


Continued from Page 1 seductive. Sexual in fact: It had a 
with every brea th. like the belly of a phallic cast, a concept 

sleeping baby. Would Charles de f ™g“T l ° ^ 


naoewrea j ruin serious buying. Tbe linkage be- 
tween purchases of US. Treasury 
dards of beauty across culture, bonds and the relative strength of 


recovoy before they return to any P 0 ^ “2°? < r eatra l banks to 
serious buying. The linkage be- backup uwrfraeignmian^ij. 


terventions, ; - 
The final stage isi sbiftin 


with China depends significantly 


support those trends," he said to on how the Chinese government 
the American Enterprise Institute, treats its people." 

rt - - _ 1 __ r_l IT V* T\ » ■ 


Gaulle have gone as far as he did “80 school kid in America, 
without a nose so huge and beaked “The nose is the commonest of 
that it took him so far into the phallic fetishes," she wrote. 


buy himself a Doris Day nose. takes hold. aM^eqmty iM fltets." 

that “for tfaemoment the autiirai- ftd toactm^M«fewdajs.fl n 
ties have been successful in seeing gfiddtorwrttotiQn wffljmla. 

^ off the risk of the dollar breSg bly only take k«d weB'afterifc 

norea au of these. 100 yen.” next nse in US. interest rate, fc 

Some people might like lo oking But be said he remained bearish wfllneed to be assisted, reomniA 


ridiculous that he came out the oth- “Freud's oddball friend Wilhelm 


Senator John F. Kerry, Demo- 
crat of Massachusetts, once a pro- 
ponent of p unishing C hina, said in 
an interview that it is lime for a new 
course. 

“The situation in China has 


Those ambitions have been low- 
ered. On May 4, Assistant Secre- 
tary of State Winston Lord said in 
a Senate hearing, “We are not seek- 
ing to transform Chinese society." 


er side and was the epitome of rliess developed a whole sexual 


“In the late 1960s, the cute; re- 
trousse nose was in fashion," Dr. 


dignity-? 


psychology based on tbe supposed 


In America, we said these were e^tonce of a “nasal reflex neuro- 
Saxon or Gallic noses, os if to ex- directly connected to the gem- 


plain them away. Lyndon Johnson 
was ethnic? If "not with that big. 


changed enough, and dynamics be- feed by a senior official ibis week 


And the latest formulation, of- coarse cowboy nose, how was it he when he lies?) 


tals.” (But how would this explain 
Pinocchio, whose nose grows larger 


and equity markets.” 

Tbe mind’s currency and bas! 
traders are dearly waiting ft* tbe 
Fed to act in the next few daj& Bn 
the ctoQar ttatrifization vrin 


Some people might like looking 


100 yen." 

But be said he remained bearish 


at Ms. Strasand’s nose: “Some in the longer term because the con- 
pcople like looking at Edsds, too,” solidation being engineered by cen- 


comrn unity is dial anything short 
of permanent renewal would be an 


tween the United States and_Qiina **We are not trying to change 


of permanent renewal would be an 
absolute disaster,” one member of 
Mr. Qin ton's economic team said 
of tbe derision on China's tariff 
status. 

Although the derision is pend- 
ing the administration spin is on. 
focusing on what few advances 
have occurred. “You can’t deny 
there has been a dialogue with Chi- 


have changed enough that itjs time Chinese society overnight.” 


looked so much like Golda Meir? 
Big does not fit into postwar cen- 


to begin a new dialogue" that 
would enhance rights and U.S eco- 


In short: Noses are sexy. This 
may account for America's unease 
with them, with tbe sales of riaa- 


One option under discussion, al- 
though viewed as unworkable by 


cep is of technobu reaucracy. It is them, with the sales of riga- 
un democratic. If you have no nose. rctt . es ’ Barbra Streisand's 


said, by a level of U.S. short-tens 
interest rates that is AibstantuSv 
higher than that of Germany, & 
period of stability in the U&1&. 


^ rnougn viewea as unworxaoie oy vou «,* nart of a crowd. Most dem- sexiness 

nomic and security concerns, be economic advisers, is to rai« tariffs Lratir Sr 9 lt if i- xt. 


na on human rights for the first 
time," a senior State Department 
official said. “We established a 
continuing dialogue, so some pro- 
gress can be made.” 

Moreover, sentiment in Con- 
gress appears to be shifting away 
bom punishment of China. In a 
speech this week. Representative 


said. 

Administration officials now 
worry about flunking the “langh 
test,” tbe derision that might greet 
full or partial renewal of trade priv- 
ileges if China has not shown 
meaningful progress. 

The administration is still trying 
to wriggle free of its own rhetoric 
Mr. Christopher, at his confirma- 
tion bearing last year, said, “Our 
policy will be to facilitate a broad, 
peaceful revolution in China from 
communism to democracy, by en- 
couraging the forces of economic 
and political liberalization in that 


only on Chinese goods produced 
by government-owned enterprises. 
It is unclear whether such an action 
is legal or practical. It would be 
difficult to disimgnfoh among com- 
panies in China, many of which are 
joint ventures and others that are 
spinoffs from government minis- 
tries. 


ocratic of all if ycu have no nose, 
how can you look down it at peo- 
ple? 


In Newport Beach. California. 
H. George Brennan, president of 
the Academy Academy of Facial 


Dr. Brennan says. tral banks could last only a month “K™ tnan tnat ol Qaam,.i 

... ... - or two. period of stahifitym the UiTfe. 

deBS^aTM^iSfNoL^K Persaud, a currency sraybond matket, «1U, 

deBogeracMemonalNoseHanof economist at J. P. Morgan in Lon- tatowik 

don, made the point that the United Stales and Japan. 
Candidates: Anjelica Huston, Bundesbank rate cut, in particular, 

George C. Scott, the coaise work- “adds weight to the view that we ______ . 


United Stales and Japan. 


Should this seem frivolous mid- Plastic and Reconstructive Sur- 
dle-brow speculation, consider the go-y, says; “She’s a plastic sur- 


ingman’s nose of Gfcrard Depar- are seeing a coordinated move by RO^IVT A * 
dieuahe thrcfc. Oat buDdog nose of central banks to prop up the dot DUijl’IA* 


camel/ nose squabble prompted by geon’s dr eam. From a mrihinV-wl 
the introduction of Joe Camel in standpoint, surgeons drool when 


dieu, the thick, flat bulldog nose of central banks to prop 
Robert De Niro playing Jake La- lar ” 

Motta in “Raging Ball” Kail Mai- Mr. Persaud added that with ax- 


cigarette ads. 


they look at ha. It’s not just ha 

.... l ■ pl . i , 


.Antonia Novello, then the sur- nose, it’s ha chin. She has a reced- 
geon-general, urged an end to Joe ing chin. It’s as much of what 


den’s potato- truncheon, whose tip month interest rate differentials ab 
starts to divide. King Sand. Antho- ready favoring the dollar against 
ny Quinn’s Zorba-the-Nose. Jack the mark and the three-month 


Nicholson's sht nose in “Qnna- 


the mark and the three-month 
numbers on their way to following 


Vote on Embargo 

Cbriraed fan Page 1 


Another option is to sin^e out Camel because his image was “too 
iccific n rod lids — for examnle. tnr r-h - 


spedfic products — for example, seductive for children.” 
textiles or tools — many of which In 1992. this statement moved 


happen to be made by state compa- 
nies. This approach would be easier 
to enforce out it is certain to harm 
private investors. 


throws ha face off as ha nose.” 

Where do these roles come from? 
Dr. Brennan says they are innate. 


srijT-titftreaUty of German rates 


is rtidpate in nnilfiatetal aetkn 
ut the United States ihw can 
idc and choose those In wiuhii 


Maijorie Carter, a professor of He rites studies of small children 
English at Harvard University, to who show greater interest in a ttrac- 


wooia oe easier tngUsh at Harvard Universitv. to who show 
certain to harm write a piece for The New York live faces. 

Times saying Joe's face was indeed composite 


wno snow “reater interest in attrac- 
tive faces. He says that reactions to 
composites show uniform stan- 


of an alcoholic nose, Joel Grey’s 
evilly tiny nose in “Cabaret," the 
ski-jump noses of Richard Nixon 
and Bob Hope. And. of course, 
Doris Day. It only seems fair. 


upon us. 

“It would be a brave investor 


U nwui UV a Utavv lUVMVUl II I 1 »» • « . 

who bets hewly tnimt the cennl 


banks at this point," he said. 

On Thursday, Mr. Persaud’s 
analysis was backed by the words 


NEWS EVENTS WHICH COULD AFFECT 
YOUR UFE: 


LABOR: Death Leaves Party With a Power Vacuum 





east 

FOUOWmE \^^EVm'D^IN THEIHT 


Subscribe now 
and save up to 


47 > 


off the 

cover price 


Continued from P^e 1 

debate, Mr. Smith’s greatest 
strength was his ability as a concili- 
ator. He worked constantly to 
bridge tbe divisions between the 
party’s more militant wing of trade 
unionists and the pragmatists — 
including Mr. Smith — who 
preached a more moderate ap- 
proach. 

Even so, Mr. Smith sometimes 
ran afoul of traditional left-wing 
elements in the party, some of 
whom were critical of Labor's drift 
to the right, a process that began 
with Mr. Kinnock. 

But Ken Follet, a Labor Party 
stalwart, dismissed such criticism, 
and said Mr. Smith had been wide- 
ly regarded as the party’s best hope. 

Mr. Smith joined the party at 16, 
was elected to Parliament in 1970 
and held several posts in the Labor 
governments in the 1970s. 

Mr. Smith battled internally to 
shed tbe party’s “loony left” image. 


At last year's party conference, he Some of his colleagues also won- 


fought hard to reduce the power of dered whether the stocky, balding 
trade unions to select party candi- Mr. Smith could project the charm 


that lifting the embargo coald lead 
to a wider war and CTca giaf oSs 
for U.S. military bnajHmmfcon 
the ground. ■ 

Tbe two proposals vreteattacbed 
to a Bosnia arms MT dig tehbotw I 
before tbe Senate^ and 
immediately clear w^ata ^^ pi- 
pennext . 

Senator John W. 


dates. He narrowly woo that fight, and charisma the party would need 
and made it dear that he consd- in a genera] election rmnpa jgn 


ered it a major step in making La- Mr. Smith suffered a heart attack 


bor a more acceptable choice to in 1988. He took three months off 
voters. Labor has not beki power to recupoate and lost more than 40 


since 1979. pounds. Ovt 

Apparently believing that his maintained, 
best strategy was to let the Cooser- any overt p 


pounds. Ova tbe last two years he 
maintained, apparently without 
any overt problems, the grading 


vatives continue to self-destruct, pace of a party leader. 


Mr. Smith declined to lay out any 
details of the polities Labor would 
pursue should it come to po wer. He 
particularly avoided discussing 
specifics on spending and taxes, 
issues on which voters have tradi- 
tionally distrusted Labor. 

Many political analysts, though, 
questioned whether Mr. Smith was 
aggressive enough in his campaign 
and debating style tc finish oh the 


red to lay out any Mr. Smith was born on Sept. 13, 
tities Labor would 1938, in the village of Ardrishaig in 
rone to power. He western Scotland, the son of Archi- 
oided discussing bald and Sarah Smith. His f alba, a 
aiding and taxes, school headmaster, was a staunch 
voters have tradi- socialist who encouraged his sot’s 
d Labor. interest in politics. As a student at 

I analysts, though, Glasgow University, Mr. Smith ran 
rer Mr. Smith was tw * oc for Parliament unsuccessful- 
h in his camoaien ty* 


both bills, called the oofta 
cal ; 

“It shows ypu the.itsA 
the United StetoScaai^ 
roving direction on fdai|| 
he said. “We srimd^an^ 
trumpet in the ears qf/tha 
ing in Bosnia." ' . - f 

Mr. Junp6|'du^^ 
policy with Amencarl^ 
warned that France andb 


ropean countries 
peacekeepers outdf'thr] 


He received a law degree from 


Conservatives at the next election, the university in 1%7, and won the 


which must be held before May 
1997. 


larliamentaiy seal fa Lanarkshire 
Jonh three years later. 


peacekeepers out df^the-BakwHi 
there was no settlement s oat .’ - 
“There is no military sohititsi far 
Bosnia," Ik said. 

American officials said the 
French suggestion about imposing 
a plan on Bosnia’s Mnsfiro-Wgp*- 
eminent, which Washington 5«s« 
the victim of Serbaan aggR^- 

would be wrong. 

(Roam, AP.tTH} 


THE BEST OF EUROPEAN BUSINESS TRAVEL 


ABANO TERME 


CAU US TOLL-FREE 

AUSTRIA: 0660 01 55 LUXEMBOURG: 08002703 

BELGIUM: 0 BOO 17538 SWTTZBUAND: 155 57 57 
FRANCE 05437437 THE NETHERLANDS-. 06 022 5158 
GSMANY: 0130848585 UNTED KINGDOM: 080089 5965 



iraKTfrVOOQlA 


OHTOOMIRT 


Or send in the coupon below. 


Swimming Poalj. Tennis Courts, 
Coif. Eseninc Emerramrocni 
Beauty & Fitness Cento- 
35031 Abano Tetme. Italy 
Tel : (39-191 £66 9IOI ‘ 

Fax ; 1 866 9779 


Brussels Finest Small Hotel 
Begun A intimate Atmosphere 
Beautiful Library 
Private Fax in all Rooms 
134 Avenue de Tervuerrn 
It 50 Brussels. Belgium 
Td ; (32-2) 741 8511 
Fax: 132-3) 741 8500 


oflIHT cover Pncas 


6 month* 
*1 mo n th 
FREE 


3 months 
+ 13 FREE 



13 - 5-94 

(chock ^ ^ TTvs is the siincription term I prefer 

□ 12 months (364 issues in dl -«ilh 52 bonus issues). 

Q 6 months (T82 issues in c!l with 26 bonus issues). 

EU 3 months (91 issues in cfl with T3 bonus issues). 

O My check is enclosed (payoble to the thtemolioriJ Herald Tribune). 

□ Please chwge mp. G Amencan Express □ Diners Gub ~ VISA 

C MasterCard 'J Eurocord Zj Access 

Cretfc crad charges wiH be mode in French Francs of eumni exchange rates. 


AMSTERDAM 


Offl' 



Greai Vie»-s. Superb H-xel. 
Private Canal Boat service 
An Amsterdam Institution 


Apolloiaan 138 

1077 BC Amsterdam. Netherlands 
Tel : 131-301 678 0780 
Fax: r3l-20) A62 6688 


348 Rmth St Jutior Suites 
with Both. AC minibar. TV 
Resunrams, Bars. Room Service 
umndry. Bum no* Service. Garage 
Awl A Sauna 
Tas Vezfe u .7 

H-l 1 13 Budapest XI. Hungary 

Tel: 136-1)161 2250 
Fox: 136-1 >165 8007 



Simply the Best Hotel in Glasgow 
All Facilities Imaginable 
dudine an Indoor Pool « Health G 


CARD ACCT. MO. 


EXP- 11415 SfGNATUSL— 

FCS BUSINESS CRDBS. F!£a£ NptCATE 'fOJR VAT NUMBER 


IHTVATnumbor FR7073202I I 26 !| 

□ Mr.CT Mn ™ Mis* FAM2.Y NW^£. 



Including an Indoor Pod* Health Gub 
I Will am Street 
Glasgow G3 8HT, U.K. 

Tel f (44-41) 2<M 5555 
Ful: (44-4 1 >204 5004 


iso In E/6 

80143 Naples, iuhr 
Tel: 139-8 1 1 554 7139 
Fax: 139-81) 554 8478 


HOTEL 

GHANDE BRETAGNE 

The Bet Hotel in Grtrcc 


HOTEL DU GOLF 


« del Sports 


Conti iiuum Soiuk 
U5 b- Athens. Greece 


1U5 b3 Athens. Greece 

Tel: t 30-h323CC5t 
Fax :t30-|i32- SUM 



For prrtonrmkjri caiccnwig band^tefrvBrv in maor Gatman Otioa eaH wi t**, isn 



Tke Best Hotel in the Alps 
Great Ski & Golf Packages 

CH-lWCrarvs Montana. Swicsriand 
Tel :|4I-J7)4I4 242 
141-27) 419 758 


fTtANKFHfiar 


273 AC Deluxe RoortWSuilcs 
"4 .Seasons' Rawiauranr. 2 Bor* & Niphl cluh 
F:mtM Club. Cimference n»m». Partin” 



STE1GENBERGER 


5 rue Duqu&mw 
HXXl Bnjssefs. Belprum 


lrt*t Brussels. Bel™ 

Tel: 132-21 SI 1 4215 
F». 132-2)511 6004 


The Most Fnmnif Hotel in Fronkhm 


< 7hrff^RniFlotdaafttxFVimif 


Kauerpiutz 
G-6031 1 Frart fuft Gcmiany 
Tel : 149-69) 213 02 
Fax : (49-69) 215 900 



■^Righte AJ 

inaFree- Reli; 


J a.**-' \ 

fSF. 


■r£, ‘ 

■■■■•:■ list 




He also asked how tbe anm> 13 


-V 

if -— .- : .- 




1 

J 


Hofw the \< 


.Ml it 






.. , , 

~ v ' ■ . • 

'T+l. " -i . 
y - 







































"V 


' = 

L'.s ."*': 

: c ?KvS 
’§ aV.„' ;• 

13 *•_ . 

i > ** ■‘j.. 

?^--- 

Such ** 
«*fci;-, i*: 

- Ccc-* 
3 '^ 3jj,’^ 


: a ==L; C 
1 Ac 



Tokyo Concedes 9 37 Atrocity 

tlkr ^ 

anking’ Author Finally Defeats Censor 


tefcrvmuQc. »; 


PP®*Eg i j , « <; 

Mf pres^r* 

t»nr L : .S 7r- : ; '- 


t&MMnd suss- •« .. . 

rtcy actmc b% ^ 


r Tfrcfa ml sue c is j : r .-. .. 
#_fSwi% A ssnti»»{j 'f';'*' 

SM*tty, Mr. Po: U ^ ^ 

bsres:.T; i- .. ■"■' 

TOte.vniUfs o;r 

■toJKckar-. i”‘ • '■ ’’ 

•$*«*& i 5 v.O '": 
•f'drifor ■- v ' : 

uLc i.-.; 3 ,> :.•■ ■ 
m-iac m IS. r:r r; V. 

be 

&t*rr x Jc*d ;f !. > i-' 


MRMf ram ihj-. . 
0* ttaR A*: ■/ 

- 

ryhofttf miHr 

Kttftlc nreerj-r 


bfe oft Ember o 


^'OaM f.*cc R» ; 

; j- , ' 

Mfe ifibBL S - r- ; - - 

tmi Item: _- 


trim. ■ .. 

IvJP^rJ ..- 


tiiAuif.i* ' 

i-Jfc E S c a re 


inti: « •* _“r : 


-•• :«a 

t-*4KMl vet :-: ::rr— - 

»Md| Sw ^ -s 

_-• -V : ~ 


»1W 

a-mwtc*- *--••- 

’-'t' • 

-■ 

(t'lfc 1*£ 
M0e« %-5 - 
k'jww" - ■ 
MMfer •• ** 
*-* 
OMs -*? • 

#«****- 


- SS&ixr?*^, 

hff Mtnn - 

./Mm*;.-*:' • 

tf^per^ »- 

*jgl0Ai'-‘. •- 

(■**:*■*••“ ■-■ - 
IS*;-*- = " ! 

jfeT :**£•*' 







h*Sj 


is*!-- - , 


TOKYO 

leading camDaii£i l J apanese who is a 

against Education Ministry 
attempts lo ^ ?, alUe against official 

19 £ 7 ofSv 00lb ° 0k acC0Unls of lhc 

^ Ac govem- 

ruling bv the T^u. 3 deadline to appeal a 
October thaf JdS® 1 W 9 0ur| . ^faich found last 
Ac massacre ««fel dlSl - <)rted P^B? 5 about 
Saburo lenaea. i ? nlten by the mstorian. 

JapanS SJ?!^ 8 ^^ ntfing stands, 
as in S Nanking, now known 

Japanese ww *“«« of Ae Chinese- 

.massacred 

Ae worst of ih* i av Aans m perhaps 
After the 5 a{Jociti ^ 

determined £t m cnmes ^“al 

been kmS Xj£MG*ae civilians had 
has nut tk» r" aD '* m ^' ^b e Chinese government 
“ 300*000. Many Japaneas 
Ae true fimna^ W N^J^S at the tune have said 
RiahtisMWv“ probabIy between the two. 
kSSSSSS^ “. J ^ Bn Md a bandful of 

p l»^“*M twasa 


Innan o “ ■wuiJbauiui iina SaVinE mat 

World Ww if 

ieuiled a 3 ^ 10 ^ ^binet after his remarks 

nw2? ^ ? roIesJ from China, Taiwan, 
taw d i°fl? Asian “ untri «- A junior 
Si ?* nd f b^ore entering politics, he rose 
^»K»ine chief of staff in the postwar Japanese 

C tP ur J ^ October followed a 
31-year court battle by Mr. Ienaga, 81. against the 
Muusuy. The courffid thatSstrJ 
censors had overstepped their bounds in censorink 


any ueieats Lensor 

his textbook and cited two passages describing the 
Nanjing massacre. 

in the first case, the court found, censors illegal- 
ly ordered Mr. Ienaga to insert words to Ae effect 
that the massacre occurred "amidst confusion," 
suggesting that the army as an institution was not 
to be blamed. In the second case, censors unlawful- 
ly instructed Mr. Ienaga to delete a reference to 
soldiers committing wholesale rape. 

The ruling determined there was a legal limit, 
based on objective truth, to how ministry censors 
could order textbook authors to alter particular 
passages. Uadi the ruling, their power to deter- 
mine historical, political and social “truths” was 
technically unlimited. 

Mr. Ienaga and other authors and experts have 
long accused censors of abusing this power, to 
assert their own “History According to Ae Minis - 
uy of Education,” which stood apart from the 
accepted academic norm. 

The 1993 High Court ruling did recognize the 
state's right to censor textbooks, prompting Mr. 
Ienaga to ask the Supreme Court to declare that 
the process was illegal. 

Mr. lenaga's lawyer, Kinju Morikawa, said 
Thursday: “We appealed to the Supreme Court 
because the .entire censorship system runs counter 
to human rights conventions and accepted norms 
in Ae international community." He said it could 
take three or more years for Ae Supreme Court to 
rule. 

He acknowledged, however, that Ae govern- 
ment decision not to contest Ac High Court deci- 
sion was “a fuD step forward." 

The High Court ruling that censors exceeded 
legal bounds try distorting histoty is now legally 
binding. This is because Ae Supreme Court dis- 
cusses only the constitutionality of laws, regula- 
tions and their administration, and not the facts of 
individual cases. 


Arrest of Rights Advocate Reported 
As China Frees Religious Dissident 


Compiled fy Our Staff From Dispatches 

BEIJING — A Chinese religious 
dissident, jailed since 1990 on 
charges of attempting to overthrow 
Communist Party rule, has been 
pended for good behavior, the Xin- 
hua press agency said Thursday. 

The official news of Ae release 
was accompanied by unofficial re- 
ports of the arrest of a human 
rights advocate in Shanghai and the 
hospitalization in prison of a for- 
mer Communist who supported Ae 
Tiananmen democracy movement 

Hajjj Pilgrimage Is Opened 

Ratten 

DUBAI,' United Arab Emirates 
— Saudi Arabia declared Ae start 
of the Moslem holy monA of 
DhuT-Hrjja on Thursday, giving 
the go-ahead for. the- annual Hag 
pilgrimage to Mecca. - ; \ 


The religious dissident, Zhang 
Ruiyu, who is 54 and a Protestant, 
came three weeks before President 
BUI Clinton of Ae United States 
must decide whether to strip China 
of low-tariff trade privileges be- 
cause of its human rights record, 
including its treatment of Chris- 
tians. 

China forbids worship except in 
state-supervised churches. It has 
closed hundreds of unofficial 
churches in recent months and 
keeps hundreds of Christians in de- 
tention, human rights groups say. 

In Shanghai, the police arrested 
Yang Zhou, spokesman of the Chi- 
nese Association for Human 
Rights, his wife said Thursday. 

“Four pohoemen came to our 
home around midday,” Li Gu oping 
said by phone. “They took away 
my husband after searching Ae 
house,, and. [a&ng away^dqcu- 
menis." . 


It was Ae sixA arrest of a promi- 
nent Chinese dissident in a month, 
and Ae fifth arrest of members of 
the Shanghai-based group. 

Finally, Bao Tong, the most se- 
nior Chinese official arrested after 
the 1989 prodemocracy demonstra- 
tions in Tiananm en Square, was 
hospitalized, his daughter Bai Turn 
said Thursday. 

“I saw my faAer two days ago 
and his heal A is very bad,” she said 
by telephone. “He is in consider- 
able pain and his face is badly swol- 
len and he has difficulty speaking.” 

Mr. Bao, 62. an economist and 
former top aide to the disgraced 
Communist Party chief Zhao 
Ziyang is serving a seven-year sen- 
tence. It was imposed in 1992 for 
“counterrevolutionary propaganda 
and incitement” and “leaking im- 
portant state secrets” during Ae 
1989 demonstrations. (AP, AFP) 


UN Agency 
Says Korea 
Inspections 
Will Go On 


By David E Sanger 

.Va' York Tima Serm c 

TOKYO — The International 
Atomic Energy Agency said Thurs- 
day Aat it would send a team of 
inspectors to North Korea this 
weekend in what appears to be a 
last-minute deal to avoid sanctions 
against Pyongyang by Ae United 
Nations Security Council. 

Under Ae terms of the loose ar- 
rangement, the inspectors will be 
permitted to flni A substantially all 
of Ae testing and sampling in 
NorA Korea's nuclear reprocess- 
ing center that they were prevented 
from cariying out in March. 

Nonh Korea, meanwhile, has 
been warned that its hopes of dip- 
lomatic talks will disappear unless 
it freezes any action to remove 
spent fuel from its nuclear reactor. 
That fuel, once convened to weap- 
oos-grade plutonium, would give 
Ae Nonh enough material for four 
or five nuclear weapons. 

As in the pasL Ae deal was 
reached in last-minute brinkman- 
ship, amid threats of sanctions. But 
both the United States and South 
Korea have backed down in recent 
weeks on details or their demands, 
in an effort lo create an atmosphere 
that could lead to long-delayed, 
high-level talks. At Aat time. Ae 
United States would lay out a pack- 
age of incentives for the NorA to 
give up its weapons project. 

“There is no real deal, so it is a 
bit risky.” said a senior SouA Ko- 
rean official who is involved in Ae 
talks. 

Because they have been burned 
so many times, U.S. and SouA Ko- 
rean officials stressed that they 
were far from declaring that Ae 
long-brewing crisis had eased. 
When Ae Nonh has reached simi- 
lar agreements in Ae pasL inspec- 
tors nave run into considerable im- 
pediments once Aev arrived at Ae 
secret complex at Yongbyon. 

A week ago, Ae top U.S. official 
handling Ae dispute, Robert L 
Gall oca. suggested Aat the policy 
might have nit a dead end, and 
expressed pessimism Aat a diplo- 
matic solution could be reached. 

So far, Ae Clinton administra- 
tion has fended off critics of Ae 
dialogue wiA NorA Korea, and its 
reluctance to impose sanctions, by 
darning Aat Acre was no evidence 
North Korea was making progress 
on a bomb project. Now Aat daim 
is threatened. If Ae NorA proceeds 
wi A Ae removal of spent fuel from 
Ae reactor without inspectors pre- 
sent, that policy of containment 
would have effectively failed. 


Threat or Opportunity? 


How the North American trading bloc 
will impact your business 




The 

AKTRLR ANDERSfcN 
Nqhth American 
Business Souro-Blnin 


Trader'jnfoxmation hotlines 


magauSmes and references 
Easi^jSourceM 


access to A* 

An essential. 


SesrFioes .. - " 

^Srk^ip^iicfety fi^tdirijg' • Eifviroriinerit . 

» Taxes 

cfMttesanddrawbadcs ; 

ports otentry .. - . ' 

Atufehen North American Business 


The 600-page 


e volume 


• Identify new customers and distribution channels 

• Locate new low-cost suppliers and raw materials- T 

• Track your current and potential competitors 
-J? . ■ Locate profitable new business ventures 

r-T Limited-time offer 

w . 

£*£?. ✓ Special pre-publication price: UK £120 (a saving of £401 


Ap centres • ruianaai igs^¥Xr*w* s v %. jzl jy. ..... 

• World tra hambers 0 f commerce ' • , * pre-publica^onpice: UK £120 (a saving of £401 

• t! ° re the United States and 600 pages, hardadw;^edal binding 

IN MEXICO, THE U ssodadons by I n dwSfife.£Sf:V? M AiL ^ X* 

m Trade/p«> fess i^ chambers of commerce , - ~ P ubl *hed by Triumph Books 

• Local and foreiS JV m international economic agendes ' by the global business experience 

• World trade cen jninistries arid directorates' . of Arthur Ai)deW£ii;one of the world's leading professions 

• offices . !. ^ccsfinns-.V. 


Access tiie $6.5 trillion market: Order now 


1^-144)0732770-2^ 

L BookSavi^^V. 1 .^.. 

cm (O' ^ , 

f -rM9 lBR Kingdom. 

wafT teArtkurAltdt^lMAnnto*’ 

.^incandUK£10e lsewher ^ . , . . 


Charge ck □ Access □ Baidaycard O Mastercard □ Visa 
Signature: — — : 

Credit Card No-l — Ex p iry Date: 

Name 

flrpimliaHiTHc 




Country:. 


.Tefcphotw:. 








lpifcr I rjinr-Rv-H- 

WATER1 -—Women with empty pots marching in New Delhi on Thursday to protest the water shortage sparked by a beat wave 


U.S. Offers Own Plan for Rwanda 
After Calling UN’s Overambitious 


By Paul Lewis 

VffH York Twtrf Sen i. e 

UNITED NATIONS. New 
York — The Untied States has crit- 
icized a new United Nations plan 
to send 5.500 soldiers into Ae heart 
of Ae Rwandan civil war to protect 
refugees and assist relief workers, 
saying iL is more than Ae organiza- 
tion can handle. 

Instead, the chief U.S. delegate 
to Ae United Nations. Madeleine 
K. Albright, told the Security 
Council on Wednesday Aat Ae 
United Nations should explore Ae 
possibility of sending an interna- 
tional force to establish a “protec- 
tion zone” along parts of the 
Rwandan border where refugees 
could gather and be cared for. 

The UN plan, submitted by Sec- 
retaiy-General Butros Buiros 
GhaJi. envisages sending troops 
straight into Kigali, where fierce 
fighting has been reported, with Ae 
objective of securing Ae airport 
and reinforcing the United Na- 
tions' small military headquarters 
Aere before fanning out through 
the country to protect refugees and 
aid workers. 

Bui in an example of the new 


mood of caution that has descend- 
ed on Ae United Nations Aese 
days, the secretary-general also 
made clear that Ae troops would 
not be auAorized to use force to 
stop Ae eAnic massacres Aat are 
estimated to have cost 200,000 lives 
so far. 

Although not excluding any 
course of action. Mrs. Albright said 
it remained unclear wheAer Afri- 
can countries were ready or able to 
send forces Tor a dangerous and 
complicated mission at the epicen- 
ter of a civil war. 

The idea of a protected zone for 
refugees along Rwanda's borders, 
she argued, would be easier to orga- 
nize from a logistical point of view. 
Ar.J African countries are more 
likely to contribute forces to iL 

Mrs. Albright said Ae United 
Stales wanted to explore this ap- 
proach and might be ready to help 
by providing money, air transport 
amf possibly some military equip- 
ment 

The Security Council told the 
secretary-general to continue work- 
ing on boA proposals and sound 
out African countries about send- 
ing troops. Most Western countries 
that take part in peacekeeping op- 


erations have also said Aat Aey 
may help wiA money and equip- 
ment but that African nations must 
provide Ae soldiers. 

In his proposal the secretary- 
general suggested Aat Ae Security 
Council send in a force of 5.50b 
troops that would include five in- 
fantry battalions. wiA a limited 
mandate “to support displaced per- 
sons and other groups in Rwanda 
who have been affected by hostil- 
ities and to assist in Ae provision of 
assistance by humanitarian agen- 
cies." 

The limited operation Ae secre- 
tary-general proposed, as well as 
Ae U.S. warning that even this 
might more than Ae United Na- 
tions can handle, reflect a growing 
recognition of the difficulties and 
dangers of intervening in civil wars 
brought home to Ae organization 
by its experiences in Somalia and 
the former Yugoslavia. 

But Ae U.S. stand also reflects 
Ae more cautious approach Ae 
Clinton administration is taking to- 
ward UN peacekeeping Aese days, 
which led it to lay down new guide- 
lines for such activities last week in 
a policy statement known as Presi- 
dential Directive 25. 


Medical Supplies 
And Food Reach 
Capital’s Hungry 

The Aismaicd Pros 

KIGALI. Rwanda — Rebel and 
army gunners stowed their bom- 
bardment of Kigali on Thursday, 
and relief workers moved into the 
capital lo deliver food and medi- 
cine to thousands of refugees. 

Only a Tew mortar rounds fell on 
Ae city Thursday and sporadic 
small-arms fire was heard in some 
areas of Ae capital. Heavy fighting 
had for days prevented food from 
reaching about 15,000 people living 
under United Nations protection. 

“We are taking advantage of the 
relative lull to get flights in and to 
deliver supplies to Ae camps,” said 
Abdul Kabia, a UN spokesman. 

Meanwhile, the LuAenm World 
Federation in Geneva said it had 
begun clearing bodies out of Ae 
Akagera River near where it emp- 
ties into Lake Victoria in Uganda. 
Bodies of people killed in Rwan- 
da’s ethnic slaughter have washed 
down Ae river, which marks Ae 
border wiA Tanzania 

The federation said Ae opera- 
tion was requested by the Ugandan 
Ministry of Internal Affairs and 
financed by $100,000 provided by 
Ae United States. 




Amsterdam 


Bruxelles ' 


Dusseldnrf 


Frankfurt ■ 


.. • - » ■ *. ■ 


’ . ~ - 


• V-; 

3f .v • . ' 

if t ■ ;. 

M- r ■ ■ 


- . “i-v <: . i 


Bratislava 

err. 13 Ac 

Bucuresti 


Budapest 

err. 12.4C 

Kiew 

Err. U.5D 
- t.1- Kl 

Ljubljana •£» 

err ic 


rtamoiKS 


Kahenhavn 


Odessa 

&rr. 15.C5 


St. Petersburg 


Timisoara 


Slockimlm 



Warszawa 



If you do with Eastern Europe, you’ll probably keep running up against 

questions like "WLii the best way to get from London to Tirana?" or “Which airline will 
fly me from £r»Kien.jiTi lo Odessa?" or "Which is the fastest connection from Milano to 
Bucharesf 00 Ft i sns-.vers to questions like these, consul! the Austrian Airlines Timetable. 
For decades no-. •■. Austrian have been operating ideally coordinated services between 
Eastern anti W^:?ni Europe As me table shows, the best connection between West and 
East will term io •• iiu Austrian Airlines. Any travel agency or Austrian Airlines Office will 
b= glad to or* .u*/ a-, u'-.iis of ihe good connections we maintain for you in Eastern Europe. 




Welcome To 

. -.Ct 7 G rsi 


























Page 6 


FRIDAY, MAY 13, 1994 


«{• ' 


m 

I *J s*"S 

m 

iHi- 

Pf : 

m 


Tm 

» •; M* i 


HZ Stt 

fep- 


§: £:i' 

M-l 
l:s:i: 
88 ■!>!! 

fei; 

Hi: 


»'■ .e'o 1 1 

\¥ : l i 1 '-| 


u * 27' ■ si • 

ft : P ■$ 

fc >?•': : 

?4‘. «■»*• 

.:• s-J 


»:• E-i 
£■: ii-.r! 

!i "t 1 


tesir-il 

fe'ips 

^s-sg 

JT 4fJl 

IJ'. IV - "'*, 
u . ir.'.'K* 
ia > ^ 

W Pl 

S5.:i A 

< “'ili 

*;» 4 i;!* 


ji It:.'* 
’*:• Jj'fB 
■t.- n 


B 

if.** w::'6 


.if- c 

wr: g 

8 

d-t ?i R 


;i - ivi D 
«'■ If 9 


!?.; ik * 

t;. » i)-< F 

}>•: 'i: Jj 

h i?‘# H 
»7‘« ' * M 
Jy-’ &’•, h 
j:-. I - .*, h 


^ *: If 

:T,‘ * 

- ■ 1 ■ “if 


Hcralb 


INTERNATIONAL 



tribune American Invasion Isn’t What Haiti Needs 


PUBLISHED Wmi T1IE NEW YORK TIMES AND THE WASHINGTON POST 


iding With China 


As Bill Clinton approaches his decision on 
trading with China, it is important to state the 
choice dearly. It is not whether to support 
human rights in C hina but bow best to do it. 

A year ago President Clinton said that if 
China did not improve its performance he 
would withdraw the trading privilege known 
as most-favored-nation treatment, in effect 
shutting its exports out of the United States. 
C hina 's progress in human rights since then 
has been disa ppointingly modest. But ending 
trade with China is loo sweeping and disrup- 
tive a remedy for the president's purpose. 
That purpose is right, and the United Slates 
has a moral obligation to pursue it The most 
effective means are the same diplomatic 
strategies that Washington uses in dealing 
with other countries. 

A compromise, much discussed in past 
weeks, might be to try partial sanctions that 
ban, for example, only goods produced by 
state-owned enterprises, or by factories run 
by the Chinese army. Administering that 
son of a partial cutoff would be, as a practi- 
cal matter, difficult to the point of impossi- 
bility. Many of the Chinese products coming 
into the United States arrive by way of Hong 
Kong or other transshipment points and 
have often passed through many hands. 
Tracing these exports back to their origins in 
China would not be simple, and attempting 
it would merely be an invitation to compli- 
cated games of deception. 

Few people have ever considered trade 


sanctions to be the ideal lever to move China’s 
Communist rulers toward a greater regard for 
lb dr people's rights. The attempt to use 
sanctions originated after the government's 
bloody suppression of the democracy move- 
ment five years ago. Democrats in Congress, 
outraged by President George Bush's limp 
acceptance of that exercise in despotism, tried 
lo legislate trade retaliation because it was the 
only weapon legally available to them. The 
Washington, Post had much sympathy for 
their effort. But with a president in office who 
takes human rights seriously, the case for 
resorting to trade sanctions is greatly dimin- 
ished- That is why there has been little inclina- 
tion in Congress this year to push for them. 

The greatest threat to a centralized Com- 
munist regime in China is not a human rights 
cam paign run from Washington but the pro- 
found social change within China generated 
by extremely rapid economic growth. It would 
be incautious to assume that it wfll necessarily 
lead to democracy. But in most countries 
rising incomes, better education and good 
communications tend over time to create a 
climate hospitable to human rights. That is 
not a bad reason to keep the trade flowing. 
Rather than going through the contortions of 


trying to bend present policy to meet past 
statements, Mr. Clinton would be wise simply 
to say that while his intention to keep pressing 
the principle of human rights remains strong, 
be has changed his mind regarding tactics. 

— THE WASHINGTON POST. 


Mandela and the Bomb 


The new government in South Africa will 
have its hands fuQ trying to overcome decades 
of apartheid and the hatreds and divisions it 
engendered. But South Africa has another lega- 
cy to get rid of — the remains of its secret 
nuclear weapons program. With all the urgent 
tasks before it, Pretoria might need timely hdp 
from Washington to lay that legacy to rest 

Under former President F. W. de Klerk. 
South Africa became the first nation lo ban its 
bombs after building them. In 1989 Mr. de 
Ideal halted construction of an atomic bomb 
and ordered the dis mantling of the six bombs 
already built. In 1991 South Africa signed the 
Nuclear Nonproliferau'on Treaty, and two 
years later it publicly acknowledged the exis- 
tence of its weapons program. 

The treaty does not oblige signatories to 
reveal details of previous nuclear programs, 
but Pretoria has granted inspectors from the 
International Atomic Energy Agency access 
to its old nuclear sites and has volunteered 
extensive data on its uranium production. 

South Africa did much of its bomb-mak- 
ing with machine tools and other technology 
produced indigenously, according to a re- 
port by David Albright of the Institute for 
Science and International Security. But it 
also had hdp from abroad. Pretoria has so 
far refused to identify its foreign suppliers. 
Identifying them would allow the United 
States to pul pressure on them not to sell to 
other would-be proliferators. 


South Africa has other leftovers that could 
fud proliferation elsewhere. Some 400 kilo- 
grains of uranium extracted from dismantled 
warheads, most of it 90 percent enriched, 
remains in South Africa, albeit under inter- 
national safeguards. A stringent new law 
regulating the export of nuclear and missile 
technology has been enacted but not fully 
instituted. Weapons experts are being laid off; 


instituted, weapons experts are bang laid off; 
one group of 16 specialists recently threatened 
to sdl secrets to the highest bidder unless they 
received a million -dollar severance package: 

Washington can hdp in three important 
ways to remove these deadly remains, as it is 
doing with Russia and Ukraine. It can buy 
South Africa's leftover weapons-grade urani- 
um, or btond it down and return it to South 
Africa for use or sale as fbd for power plants. 
It can offer Pretoria technical assistance to 
train customs officials in the latest techniques 
for detecting and preventing the export of 
weapons technology. And it can establish 
joint projects to put the skulls of South Afri- 
ca's bomb-builders to peaceful use: In return, 
it can seek more information about South 
Africa’s nuclear and missil e supply network. 

These steps would go a long way to end 
lingering unease, in South Africa and else- 
where, about Pretoria's nuclear legacy. They 
could also help President Nelson Mandela ful- 
fill his pledge to abide by the nonproliferation 
treaty and make all of Africa nuclear-free. 

— THE NEW YORK TIMES. 


Trouble for Tobacco 


Ten years ago, a woman named Rose Gpol- 
kme gave a deposition in her suit against three 
cigarette manufacturers for damage to bet 
health. “I thought it was cool lo smoke, and 
grown-up.” Then, she added, "I got hooked." 
A few months after her deposition Mrs. Cipol- 
lone died of long cancer, so she never knew 
she bad become the first person to be awarded 
dam a ges — $400,000 to her widower — in a 
smoking liability case. The ruling was over- 
turned on appeal, and a retrial canceled when 
the Cipollones' attorneys found it loo expen- 
sive to continue. They were not tbe first law- 
yers to be outgunned by the rich and powerful 
tobacco industry, but now the legal balance 
may be shifting. Incriminating papers from 
industry files could give future p laintiff * a far 
greater chance to succeed. 

Internal documents from Brown & Wil- 
liamson Tobacco Corporation show that in 
1963, just before the lan dmar k surgeon gener- 
al's report on the hazards of smoking, compa- 
ny executives knew just how hazardous their 
product was. Should they, as one executive 
advised, tdJ Surgeon General Luther Terry 
that their research had found that cigarettes 
caused or predisposed people to lung cancer, 
contributed to heart disease and might cause 
emphysema, and that nicotine was “an addic- 
tive drug"? Or should they keep their mouths 
shut? Brown & Williamson, and other compa- 
nies with which the research was shared 
through the Tobacco Industry Research Com- 
mittee and later the Council on Tobacco Re- 
search, chose to remain silent. 

The documents, said to have been stolen by 
a former employee of a law firm doing work 
for Brown & Williamson, are profoundly un- 
settling. Most unsettling, perhaps, are those 
written by Addison Yeoman, the company’s 
general counsel. To read them is to be remind- 
ed of that old saw about the saddest words of 
tongue or pen bring “It might have been." 

One might cavil at Mr. Yeaman’s hope tha t 
cigarettes would continue to deliver a “nice 
jolt of nicotine." But he suggested that the 
company “accept its responsibility.” disclose 


the hazards to Dr. Terry and openly conduct 
research to develop safer cigarettes. Rather 
than maintain its defensive posture, be argned, 
the industry should embark on a “massive and 
impressively financed campaign” either to dis- 
prove the hazards or, far mote Hkdy, discover 
which are tbe cancer-causing chemicals and 
“neutralize them." The industry didn’t, and 
America has tbe gravestones to prove it. 

Rose Gpdlone was indeed Tiooked,” and 
so, as an increasing body of evidence attests, 
are millions of Americans. The tobacco indus- 
try’s favorite defense — that smokos are solely 
responsible for their own actions — may not 
cut much ice with juries confronted with evi- 
dence that tbe industry knew long ago that its 
product was both hazardous and addictive. The 
industry's boost that it has never had to pay or 
settle could become a thing of the past. 

— THE NEW YORK TIMES. 


Other Comment 


Singapore Behind the Times 


That order in Singapore will not be sacri- 
ficed lo a lawless young American is what the 
government communicated with every lash on 
Michael Fay’s buttocks. But progress may be. 

The connection between flogging and mo- 
dernity is real. To most persons of modem 
sensibility, including me, the caning of Mr. 
Fay seemed wildly out of proportion to tbe 
crime. Singaporean officials commented that 
the practice of caning had been acquired from 
the British during colonial times. Of course, 
the British, tbe Americans, the West Europe- 
ans once used such punishments, but they 
have far “softer” punishments today. No 
witches are burned, no adulteresses branded, 
no heretics whipped. Affluence and democra- 
cy obviously discourage harsh punishment. 
Brutal punishments are associated with pov- 
erty, illiteracy and despotism. No wonder Sin- 
gapore’s officials (cel so defensive. 

— Jeane Kirkpatrick m a syndicated column. 



y r p K 

kn K 
S-.ff ; m 

«i : js 

fa H p. 

\rp- 1 

i? : a !( $1 

je.’r * 

ft'" SrT.t Vl 
if j? 


International Herald Tnbune 

ESTABLISHED 1887 

KATHARINE GRAHAM. ARTHUR OCHS SULZBERGER 
Co-Chairmen 

RICHARD McCLEAN. Publisher £ Chief Executive 
JOHN VTNOCUR,£aseuw££tor &. VkxPttadatt 

• WALTER WELLS. News Edxr • SAMUEL ABT, KATOERBCKNORRand 
C HARLES MTTCHELMORU Deputy Ecbors • CARLGEWIRTZ.Anncfas'fiisfiHir 

• ROBERT J.DONAHL^£aur(^ihf£dS»r^/^po» JONATHAN GAGE, Busmen aivlFbxinaEdhor 

• RENEBONDY. Deputy Puteter* JAMES NkiKXXAdverdsng Director 
•JUANTFALCASPARLImcmfllic^Dfiri^mDTOtir* ROBERTFARR^. Omdakn Dsnanr, Europe 

DinxiairdehPvUki^acKeNsMD.Snmteia 
Director Adjoint deb PuUuuxk Katharine P. Dome 


lrtemarionaiHaald Tribune. 181 Avenue O-artes-dfrGaifle, 92521 Neuflhw-Sant fiance. 
TeL : fl) 463793.00. fax : Ore, 46J7.C&51: Adv, 463752.12 tana: Wr®om*Dmie 


E&srfirApa: Midori ttshatisn 5 Gnersunr A i Singapore (Ell. TeL ( 6 S) 47 i- 776 &. Fac ( 65 ) 274-2134 
Ung. Dir. Asia. RojTO Krone**! 50 Ghunser M. Hang Kona TeL 852 - 9222 - 1 1 SS. Fac B 52 - 92 Z 2 -I 19 Q. 
Grn. Mgr. German?: T. SeMfer, Fritdndttr. 15 . 60323 FnrifonM. Td (DBS) 72 67 5i Fac f 069 ) 72 73 10 
PntUS: Mktud Q wo*. S 50 Third Ait- New York. N.Y. 10022 . Td ( 212 ) 7 S 2 - 38 S 0 . Fac ( 212 ) 73W78J 
UX Advertising Office: 63 Lang Acre. London WC2 TeL ( 071 ) 8364801 Fax: ( 071 ) 240 - 2254 . 
f«i. an capital de 1 . 200.000 F. RCS Sanstrte B 73202 ) 126 . Cotnmission Pariudre No. 61337 

V /W. bBmsmd HerridTriune. AHrirfaxtrvrwd 


W ASHINGTON— Scramblin| 
to revive its moribund Hub 


By Thomas Carothers 


e cy, the Clinton a dminis tration 
decided to rule out a compro- 
mise with Lhe country's military 
leaden and to broaden economic 
sanctions. Tbe one certain effect of 
this new policy will be to greatly 
increase the possibility of U.S. mili- 


chose a leader who promised a fun- 
damental redistribution of power. 

A U-S. invasion lo “restore de- 
mocracy," therefore, could not sim- 


Forrign occupations rapidly wear 
on both tbe occupiers and the occu- 


pied. America might be hailed by 
Haitians on its W3Y into Port-au- 
Prince, but it would soon be taking 


ply aim to pacify Haiti. It would 
have to shatter the hold of the vio- 
lent, anti-democratic members of 
the elite by eradicating the web of 
ihuggish armed groups that have 
asserted control across the country. 

It would then have to be followril 
by a long-term occupation lo check 
the extremists on both sides and 
slowly forge a moderate consensus, 
which has never existed in Haiti. 

And it would have to be comple- 
mented by an extensive and costly 
long-range assistance program. 

These tasks are enormous. Yet if 
tbe United States invades Haiti it 
will almost certainly do so trying to 
minimize its mission. President Bill 
Clinton could persuade the ex- 
tremely reluctant Joint Chiefs of 
Staff to move only by assuring them 
that it would be a' short-term pacifi- 
cation action. And Americans are 
likely to support an invasion only if 
it is short and painless. 

So any military action would be 
designed' as much to meet cons train ts 
at home as to confront the actual 
challenges in Haiti. 

Even if the United States invades 
with a co mmi tment to overseeing a 
long-term restructuring of Haitian 
society, it is unclear that it could 
succeed. One can scarcely point lo a 
track record of American invasions' 
leading to the transformation of 
highly underdeveloped countries 
with few democratic traditions into 
stable, functioning democracies. 


tary intervention. 

faced with the tightened embar- 
go, which will go into effect next 
week, Haiti's rulers will not just 
throw up their hands and go. They 
will engage in political maneuver- 
ing, such as Wednesday’s installa- 
tion of the 80-year-old Supreme 
Court Justice Emil Jonassamt as 
“provisional president" 

And they will continue their sick- 
ening game of chicken with the 
United State — Hin g in g to power 
as the suffering in Haiti goes from 
terrible to truly horrifying, betting 
that the United States will lose its 
stomach for the embargo before it 
forces them out 

As the stalemate intensifies, the 
choices facing the Clinton adminis- 
tration will be increasingly stark 
and agonizing: to admit defeat and 
call for a lifting of the embargo, to 
hold tight and bear responsibilitY 
for enormous suffering in Haiti with 
an uncertain prospect of eventual 
“victory," or to invade. 

Faced with these choices, the ad- 
ministration may well go the mili- 
tary route. U.S. presidents can tol- 
erate only so much defiance from 
tinpot strongmen before they send 
in the marines, as George Bush did 
in Panama in 1989. 

Haiti has been a source of tre- 
mendous frustration for the Clinton 
administration. Thai frustration in- 


blame for the country's continuing 
troubles and looking for a way out. 

Armed intervention poses pro- 
blems of principle as well as prac- 
tice. At root, the United States has 
no interest at stake in Haiti so 
compelling as to warrant unilateral 
military action. 

Some people argue that America 
should promote democracy abroad 
by force. But an invasion of Haiti 
would not be widely seen as uphold- 
ing such a principle. 

The United States hardly blinked 
at the forcible negation of the dec- 
lions in Algeria and the ouster of an 
dected leader in the former Soviet 
republic of Georgia in recent years. 
In the Western Hemisphere, few 
Latin Americans would be persuad- 
ed that it would invade other coun- 
tries. say Venezuela or Brazil, in 
response to a coup. 

The lesson the world would ex- 
tract from an invasion would be 
that if a U.S. president is humiliated 
long enough by strongmen in a rela- 
tively powerless country with a his- 
tory of American involvement in its 
internal affairs, he will send in the 
marines. This would not be an espe- 
cially impressive lesson. 

U.S. nmiiaiy intervention in Haiti 
would violate international law and 
thereby contradict U.S. efforts since 
the end of the Cold War to promote 
an international order based on 
heightened respect for the law. With- 


in (he Western Hemisphere it would 
set back the goal of moving beyond 
imDateratism and developing a re- 
gional approach to the promotion of 
human rights and democracy. 

Finally, an invasion would set a 
dangerous example for other re- 
gions where UJS. strategic interests 
are greater. Does Washington want 
to send a signal to Russia, for exismr 
pie, that ii is acceptable for domi- 
nant regional powers to use force to 

I ■ LI I 1 11. 


solve their neighbors' internal polit- 
ical problems? 


ical problems? 

Ail the options are unsatisfying. 


Armed intervention is among the 
worst The Clinton administration 
must instead consider alternatives 
that do not depend on the immedi- 
ate return of Father Aristide, up to 
now a central pan of UJS. policy. 
An option that should be consid- 
ered is the formation of a multipar- 
ty interim government, fully backed 
by the legitimately dected members 
of the Haitian Parliament 

This would be part of a United 
Nations-sanctioned negotiated ac- 
cord that would permit a substan- 
tial UN force to oversee next year's 
elections and stay in place after- 
ward to protect die results. 

Tbe paradox of Haiti policy is 
that the longer Washington holds 
out for the best of all possible 
worlds, the more likely it is to end 
up with tbe worst 


77n? writer, a senior associate at the 
Carnegie Endowment for Interna- 
tional Peace, is author of u In the 
Name of Dernoeracy: U-S. Polity To- 
ward Latin America in the Reagan 
Years.” He contributed this comment 
to The New York Tunes. 


evitably combines with the aggrava- 
tions in Bosnia, Somalia, North Ko- 
rea and elsewhere to create a be- 
sieged mentality in which some 
unexpected spark — a daytime mas- 
sacre of dozens of Haitians, or the 
falling of a group of foreign relief 
workers — could push the president 
to order an invasion. 

Military intervention in Haiti 
may look like a plausible way out of 
a perplexing policy dilemma. But a 
US. invasion — and it would be a 
US. invasion, even if Secretary of 
State Warren Christopher proves 
successful in his recent efforts to 
persuade Latin governments to pro- 
vide multilateral support afterward 
— would be a serious mistake. 

The political problem in Haiti is 




not simply that the military refuses 
to allow the ReverendJean- Bertrand 


to allow the Reverend Jeanr Bertrand 
Aristide, the country’s first freely 
dected president, to return. It is that 
Haitian society is profoundly polar- 
ized between an entrenched business 
and military ehte, some of whom 
are violently anti-democratic and 
some of whom are not, and tbe great 
mass of ordinary Haitians, who 
deeply hate the elite and in 1990 




History Must Have Its Due: Let the Germans Wait 


P ARIS — Perhaps it is lhe resur- 
gent fear that the ideal of a uni- 
fied Europe is crumbling, particular- 
ly its crucial French-Gemum core, 
which makes some people so impa- 
tient for new symbols that they want 
to use D-Day to demonstrate the 
dose embrace by inviting Germany 
to tire 50th anniversary. 

It is inappropriate. Nothing said or 
done will change the fact that the 
Normandy landings were the spear- 
head of the Western allies' invasion 
to reverse and defeat the Goman 
conquest of Europe. That wasn't 
completed until May 8 , 1945 (the 
Russians boycotted the surrender 
ceremony at Reims that day, so they 


By Flora Lewis 


be the occasion to celebrate the pro- 
found changes which followed Ger- 
many’s unconditional surrender. V-E 
Day is about the future, and that will 
be the time to honor trust and recon- 
ciliation with the new Germany 
which arose as a result. 

Both remembrance and solemn 
recognition of the achievements of 
Europe's transformation in tbe last 
half century are important One can- 


not replace tbe other. As D-Day and 
V-E Day were part of the same war. 


celebrate May 9, when they look an- 
other surrender in Berlin). 


V-E Day were part of the same war, 
these ideas are part of the same need 
now to make sure that history keeps 
moving in tbe direction of a peaceful. 


nearly a year between the landings 
and peace in Europe. For exactly the 
reasons offered by those who want to 
include Germany in D-Day rites as 
one of the liberated nations, its stur- 
dy democracy, its eager and loyal 
dedication to a united Europe, its 
vital role in tbe Continent’s affairs, 
there should be confidence that Eu- 
rope is sufficiently robust to make 
each observance at its due time. 

French-German frictions are to be 
overcome by pondering the differ- 
ence between past and present, and 


ated sooner, sparing many lives. 
Winston Churchill, so sensitive to 


drawing the consequences for the fu- 
ture. This has worked well so far. It 


other surrender in Berlin). 

D-Day is about the past, Europe’s 
terrible wars and what it took to over- 
came them. That must be remem- 
bered, lest lassitude, negligence, new 
grievance be allowed to release old 
demons again, as in ex- Yugoslavia. 

The 50th anniversary of victory in 


cooperative continent 
V-E Day will also b 


V-E Day will also be the time to 
indude the Russians, and tbe other 
successor stares whose men were part 


of the Soviet army. It wfll be a wav of 
taking formal notice that the old allies 


taking formal notice that the old allies 
are, and should remain, friends again, 
dosing the long Gold War parenthesis. 
There is no reason to fear acknowl- 


Europe, and in Japan which ended edging now, in separate and quite 
World War H, is next year. That will different ceremonies, the interval of 


ture. This has worked well so far. It 
will continue to work so long as histo- 
ry is not bhirred or distorted, its les- 
sons allowed to fade. 

The end of the war and the whole 
organization of the postwar period 
were based on keen awareness of 
the lessons of World War I and its 
aftermath. There were arguments 
about tbe wisdom of insisting on 
unconditional surrender after D- 
Day. Peace might have been uegoti- 


___ about the rea 

The New News Flows in New Channels 


W ASHINGTON — The mass 

audience and the mass media 


TV audience and the mass media 
are rapidly disintegrating in Ameri- 
ca. People's faith and trust in soci- 
ety’s institutions are falling. People 
are seeking to restore a sense of 
community in (heir lives. 

Those three factors have con- 
tributed to a fragmented, treacher- 
ous and unfamiliar communica- 


By Michael McKeon 


People send faxes by 
day end sign on to 
computers at night to 
have conversations 
with strangers in terms 
they understand* 


way is not the rapidly advancing 
technology but the fact that tbe indi- 
vidual is now in the driver's seat. 

And because distrust of govern- 
ment, business, the media and other 
institutions runs so high, many peo- 
ple do want to shut out these “offi- 
cial’’ sources of information. 

This does not mean that they are 
not communicating. On the con- 
trary. their appetite for informa- 
tion. a manifestation of their need 
for community, is greater than ever. 


true feelings. As Tor network news 
programs, they are losing their au- 
dience bv the day. 

It used to be that if it was on the 
evening news, it was news, because 
that was the only television news. 
Today many people want their 
news unfiltered — from like- mind- 


from like-mind- 


ed people, and staled in their own 
terras. The drawback here is that 


In place of network television 
and toe daDy paper, people are 
turning to what I call “the stealth 


cons landscape in which tradi- 
tional methods of reaching people 
— network television, print and 
radio advertising — count for far 
less than they used to. 

Today, with cable and interactive 
television, remote control. VCRs, 
E-mail and faxes, a great many peo- 
ple have almost u nlim ited access lo 
a variety of new information 
sources. And they have the ability 
to deny access to anyone trying to 
readi than with a message. 

What this means is that the 
things most Americans will be talk- 
ing about are no longer chosen by a 
handful of network news producers 
each evening. Today vast numbers 
of people can choose the issues, the 
medium and the community with 
which they share their views. The 
basis of tire information supethigb- 


medium" — the 1990s equivalent of 
the barroom conversation. They 
send faxes by day and sign on to 
computers at night to have conver- 
sations with strangers in terms they 
understand — terms that would not 
pass most political correctness tests 
out nevertheless reflect the lan- 
guage they understand and use 
among themselves. 

Thee so-called “virtual commu- 
nities” are coalescing among people 
who share nothing more than cer- 
tain common interests and a desire 
to reach out and connect with 
someone dse. They range from en- 
vironmental terrorists on the ex- 
treme left to neo-Nazi hate groups 
on the ex time right 

The “news" that flows between 
the members of these communities 
»s uncensored, and its claims to 
accuracy and truth often go un- 


terms. The drawback here is that 
people are often choosing infor- 
mation i delivered by demagogues 
appealing lo fear, anxiety and 
prejudice through healed rhetoric 
and distortion. In the mass media 
these views are rarely heard, but in 
the stealth medium they often 
move unchallenged. 

Such conversations, uncensored 
and unedited, are occurring by the 
millions every day on 100 -channel 
interactive television, on talk ra- 
dio, in books and newsletters, and 

on the endless stream of talk sbows 

spewing out hyper-cooked ver- 
sions of “news." 

Rap music is another channel on 
the stealth medium. The performer 
Ice-T calls rap “the black CNN.” 
because it keeps people aware or 
the street conditions. 

Political candidates are going to 
have to learn to package messages 
aimed at extremely selective “virtu- 
al communities” tiiai must be 
reached through their chosen form 
of communication. Political candi- 
dates have never had so many dif- 
ferent ways to deliver messages, but 


across the Continent that he wanted 
the invasion launched in the southeast, 
“Europe’s soft underbelly," instead of 
in Normandy, nonetheless was ada- 
mant about surrender without negoti- 
ations. There was to be no grounds far 
repeating Hitler's claim that Germany 
was not really defeated in World War 
I but “stabbed in tbe back.” 

In the same awareness of what to 
avoid, the United Nations was orga- 
nized so as not to imitate the failed 
structure of tbe League of Nations. 
Postwar policy era Germany and U S. 
policy toward ravaged, impoverished 
Allies, (hough spurred by the growing 
confrontation with Moscow, was still a 
conscious effort not to repeat the mis- 
takes that brought tbe Second Worid 
War just a generation after the Fust. 

It worked. Western Europe has 
made such progress that war among its 
long hostile states is no longer conceiv- 
able; despite current set-backs, it has 
achieved a prosperity beyond tbe 
dreams of its peoples half a century 
ago. Tbe outbreak and long pursuit of 
war in ex-Yugoslavia is a bad sign 
about the reading of history now. tne 
angers and the fears reviving, the smug 
complacency or indifference of by- 
standers reasserting itself. 

The rewards for taking the lessons 
of history to heart after 1945 show 
today in the well-being of Western 
Europe. It would be a bad mistake 
to meddle with them now. 

There was D-Day, a time of fearful 
ordeal whose losses are to be 
mourned. Eleven months later, there 
was V-E Day, a time of joy which 
brought a new beginning. It is not too 
early to start planning those celebra- 
tions, and the planning itself can help 
over the interim. They should not be 
fused or confused. 

Flora Lewis. 




d* 


By Hobart Rw*: 


W ASHINGTON — WaB'S 
is out of syicwitb Mains 
where jobs arc growing, faffed 
low and buanessmea are jmwii 
handsome prof5ts.“Wevem 

the tesl_par^of ibe fe^ - 

of Lehman Brothers. 


America is cooking." ■ _ - ; • 
The United Stiues’is ^aio^B 


lowest inflation rates ai yy the ] 


at the rate of; 3 nriHidh ayetffet 
unemployment is 6.4 pacoot ^.**1 
cry from the 

could trigger a boom ina ray 
But the Federal Rescrg&ltaf:. 


Y Ltoi 


acting cm-the^teBgifeb-that'mafr 
pkwment ax 64 percent a 
pudi wages up. This 
Daniel Bachman of thfrWEFAlS 


m^S a^iw yd. fthnsylvariia.'..- • 
The WEFA study shows 
markets are beginning to ffdttam 
only in service industries, 
count for Hpercentof febborl^ 
Odilon ad mini s trati on oflfcntCTB. 
eluding Alan Blinder, the Fed fa 


Cation may pose a ttaaa,i»t toy 
unemployment goes below 6 poom. 

Eves that would not gtiaraifaai 
inflationary surge. The Ihritcd Sales; 
remember, is part of animenafrfa 
economy, in which snrphs labor,®, 
tabfy in Europe keeps afidonwaas. 

But Wall Street will not wak and 
inflation is a fact or even ajfaxm 
threat. Perversely, the best of tfe 
good news — after a long rocaab, 
people are again finding jobs —he. 
comes bad news for the markets. 
Wall Streeters demand thatfaFed, 

which has already taken three ^ 
emptive” strikes at inflation bynAjpg 
short- terra interest rater a total 
three-quarters of a percentage pot®, 
do even more. The Fed appears ready 
to do six But on Monday and Tuesday 
of this week, when it Med to nap®! 
to a 0.1 percent drop in the naoigky- 
ment rate to 6.4 penait, stocks and 
bonds fell out of bed. - 

Little is said in WaR Street about 
the fact that tire stockand bond jac- 
kets, fueled by enormous speculation 
in derivatives — “side bets” on ma- 
ke* performance — were ready foci 
fall after a spectacular boom 

Bond traders would prefer to see 
the economy slow to a growth rate of 
2 percent, instead of the3penzot« 


more projected by iht Canton ad- 
ministration for this year. Bata 2 
percent rate would ikk provide jobs 
for a growing population. IT weld 
boost unemployment ba&%> the 7 
percent range, cut oonaife-spsod- 
mg and provide the settra for a 
“growth recession," a levdonation- 


af activity only slightly hose (hurt 
recession. Troth be tore. Writ Street 
would love a real recesBan heeanScit 

In essence! the 

flict is between the “haves" «jd thc 
“have-nots." The “haves" w-ti* 
owners of wealth, espeoifly bo&& 
whose value is eroded bf;infWwn. 
Tbe “have-nots" are those 
yet to make their stake, and who, as 
borrowers, benefit frim cheapin®- 
ey. flat aver the long term, aswrakm 
come into the labor force; and saw 
money, they, too, wfll suffer fro® 
inflation that reduces tbevabaof «£ 
dollars in their pay-or savings. . 

The challenge to government, ft 
chiding tbe Fed, isr'to find a hri®* 
that will not stunt the growth of a® 
economy by concentrating tools®- 
ly on inflation risks. The goal mffij 
not be low inflation alone, bat 1 # 
employment as wdl. 

Blame for die current ness, ȣ 
gests Mr. Bachman of WEFA , w 
more with Wall Street than the ^ 
He labels the Fed’s recent threes 
quarter point increases as mcxwafc 
But each time, the market re * 1 ® 0 
was excessive or fllcgicaL . / i- 

Wall Street’s only excise ff 
until recently, the red had 
itself in a mystique. Thus, even 


Will VUWV WiMMHW n- ; I 

mystery and anno unce the iatert 
purpose of each- of (he Fed -art* 
Wall Street players assumed 
Fed must know somahing they 
The Fed appears to have spook* 
Wall Street by its past bebaviot 
The best hope for innocear ty- 
slanders caught in the market mm: 
strom is that over the next six ffloro* 
or so evidence will pile op coaw®’ 
ing that all tbe scare talk about 
lion was just that 

With lock — and assuming a 
erratic performance from thep^' 
dent, especially on major glow* 
sues — long-term interest , ra® 
might ease down gradually wh * 16 ^ 
cession is avoided. 

The Washington Post 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO^ 


1894 : Perfect Revolution 1919 : NewMkiilMtf 

PARIS — According to Monsieur WARSAW — Under PadeflS*^ 
Bunau- Vanda — who held the hie*, eWEfl Ut* 


the odds against reaching signifi- 
cant numbers of people wiinthe 


challenged. Equally important, the 
character of the information tends 
to be more emotional and. as a 
result, more reflective of people's 


cant numbers of people wiihti 
message have never been greater. 


The writer, president of a political 
consuliineprm, contributed this com- 
ment to The Washington Post. 


Bunau-Varifla — who held the high- 
ly responsible position or engineer- 
in-chief of the Panama Canal and 
who is one of the most distinguished 
members of the Pools et Chaussees. 
the greatest engineering institute of 
France 7 - “by far the most interest- 
ing engineering experiment of the 
present lime and of the greatest 
interest to the world at large is 
the new electric locomotive which 
the day before yesterday [May 11 ] 
made so successful a trip to Mantes. 
It means a perfect revolution in 
the world. It means that in the 
future we are going lo compass 
gr«t distances in very short limes, 
and as the saying is ’time is mon- 
ey, both the traveling public 
ana the commercial world can readi- 
ly appreciate whai it signifies. 
There is nothing of Jules Vernish 
imagination about this electric lo- 


Premiership, Bolshevism, 
modified form, hss not 
land. Polish unity, daj^ jftngr 
comes more mid 
State is now rapidly 


a more definite fcoft 

fewer than 37 , 000,000 

an area approximately equal®]?*-. 

Germany itsdf . This 

eager to fulfill her destiny 

to all possible Teutonic ambititBftrr 


1944: 


NEW YORK— [From ourNe*W* 
edition:] Two new P-51 iMowg 
fighter planes, piloted by Anfflffrs 
edipsed all previous transc^te^K 
speed records yestoday (Mj&e 
when thwstrealMdfnamlxsA^^ 


c ©motive. I am perfectly confident 
Of its success," 


when they streaked from La 
to New York in a shade over 
half hours, at an average < 
about 378 miles an hour. . 


■ : • 7" & 


- 7 .--T 




• a 


m:- - 


••• f--=r * 

••• <: 


**it A* 






PU THIN: 




■s few 

: W 






---* 

-■ ir, rr. J 


:ys--'u 

-''■MT evf:*! 

■- •-r saa.’ 






i*a; 
5i4 *s£ 


’ S tv-ucx 




■ % C.:':. a 


Kris 








1 





INTERNATIONAL HERALD TRIBUNE, FRIDAY. MAY 13. 199+ 


iCTON _ 
fttaluf^cv.r •j'.' 

d 4* as gnr-wjn- '-*‘L 

ftimsL-i trT.y<- 

loefrmfhs. -w«\V*v 
«n of \h v 
i-die ecoKvs- : 
Brorfifr; 7 
ili cookin’ - 
^feteri Sw'ift .. 

^fj«t-4hrr X 

fkC r XKt£ of > 

SBrtOJUVUiJ tr 


•** ' 


..... 

&3 Wjtser * br-crr. : 
mm - Federal R ± 

atsi^r" - .\ fc '.■ 

Wit it 6.4 cer_— 

KWiBBr. th:,'. 

iWIMmBao«'L-. r - 

HWofcd caaiOT^- ■ -_t! ? ,_ 

L Fir^.; ": c :-- 

9kl#efa iiLHi- 

S6» : t» be^“ : - ?-•■ 

Wvkr "- ; . ' V 

■•toe Mpercrr:! .-■[ •_• . 

*fe 'fftttim* LTz::.- - ' v' ’ 
Sfl* AUn B5ir.cr 
jtjw»de wgzu-.a.: f . : 
Bfegay pass ; : r. - 

itipfcwasii rr ' 
Mi An wetuk - • . -f*’-' 
NfeUftajr&s T::-.- ■ '~'~r 
oniw.is fdr. v • 
flonQr.w ‘ 

frfeEwe**. i**?'. 

ImSk;'.. . " ' 
■; 

itf.- Pwj ’ - g-. • • •-'• 
a/:V: i 

(fe veagArt ; r _ 

Mtf&d £m 1 •.: 
fafiiwotttr!.c , 7-u.- : -..l :;. 
ir tw j^reac- ~C. 
HWC"4toics-i; ...\ -•'- 
fftiffi- ssssr ■ •_ 
NW-’W rf -■ 


afipavts. « 


n ri. 


o' ay. ft*'.:*, M 

Il'fWK • 
* : .KK* U; jfii y-s: 
drfi^ 5cr - * 
w »-» 

I*i fci! lie : : 

i'jMnj fev e* ,.- 
— * 

fljttforaaiK&r - 

aAcr 

•tf-wji 

V '■&&*** - 


.Wr. -1 - : 



iusm* 1 *" 1 r~ •• ^ 

f»30 ^ ,: ‘ 


lit 'V* 



OPINION 



Page 


^nericam Should Ponder the High Cost of Watergate 


B^LE y - California - Grca. 

“}* public mamK' seldom “e 

looki!i^ U ^ 0n ' ^at sunnje iS^iSIS 11311(1 311(1 Mr ‘ ^ ixo °* essentially a shy 
u P°n- that somedmes nJ” 1 m:m - would warder into Ron Ziegler's 
c «»er to truth. 8^ y° u office to shake hands and talk. 


By Richard Critchfield 


ab ^R^har^ W NL!! lade 106 w °nder 
t .In January 1969 , 


u,?tw inaugurated as nr JLw' 11 wa * limc t0 6° whcn Mr* Kis- In Saigon during the overthrow of S< 
“fwashujgton Star sent ^ a Frid ay afternoon briefing Vietnam's NgoDinh Diem in 1963, 

2*? ^ite House .This was n0l l ® 10 ^ouw* the banning of the tbev keot hammerina on the theme 


I left Washington that fall to begin 

reporting the world from its villages, 

on th- a... ii something I have done ever since. I 
on the day Mr. ^ a ^ Umc t0 g0 when ^ ^ 


v- . - Miic nouse 

iso ns ^ 

rhe Capitol ceremo- 


and 

were 


American withdrawal from Vietnam. It 


mg |Lj* afv Ik/, --iivnwui niuiuianui 

Haynes Johnsons n/iw j^ S meant, of course, that we had lost the 
“"tar up at thJ «f. Md I said so. TI 


up 
or seated 


Prau^lvania Avenue' nj? not e " l nd my “ iitors k ®P [ Meeting it, until 
P® 1 ** 1 to do a storv rn *’ final, y in consternation they turned it 


The stoiy was for 
release on Sunday. I kept rewriting iu 


™ t ^-'I d .con C now.. 


over to our Pemaeon coi 


they 


rrespon 


denL 



gaff at the rear entrance of'the ^■ eas 2 sly adversarial tbere - 

^ House! saw the days of 

the RrK^r’ 11 ^ 1 ’ 0X1 * awn outside 
Rose Garden and Oval nm“ 
moving men 


At the 
the old 


correspondents like Mr. 
orner or The Post’s Carroll Kilpatrick 
were ending and a new breed of aggres- 
sive investigative reporters, with TV 
show biz types heedlessly leading the 
pack, were taring over. Many had arisen 
«... die overthrow of South 

and 

they kept hammering on the theme that 
government could not be trusted. 

The trend alarmed some of the more 
thoughtful observers in Washington. 
Walter Lippmann told me he was con- 
cerned that faith in America's liberal 
institutions could become so eroded 
that it might be hard for future Ameri- 
can governments to govern. This is 
something to ponder in these days of 
Whitewater and Paul Jones. 

To give one example: 

Mr. Nixon brought in Pat Moyni- 


han, a Harvard professor who first 
came to Washington under President 
Kennedy and now heads the Senate 
Finance Committee, to reform well ore. 
Both Mr. Nixon and Mr. Moyni han 
saw the social isolation of blacks as 
America's leading domestic problem. 


to help black families disperse into the 
larger white population through some- 
thing like a guaranteed minimum in- 
come. Had Watergate not come along 
in 1972, America's streets today might 
□oi be strewn with bomeless people 
and endemic violence. The day Mr. 


It had been unintentionally caused Nixon resigned Aug. 9, 1974, to avoid 
by a whole series of economic develop- certain impeachment. Mr. Moynihan's 
ments, such as the mechanization of reforms were dead, 
cotton production, which sent un- Now nothing has been done for a 
skilled blacks streaming north to the generation. Twenty years gone up in 
cities: postwar veterans' housing loans smoke. Maybe one' cannot entirely 
and cheap new methods of home con- blame the press, but it needs to be said: 
stnicuon, which helped whites to get My White House daw left no doubt in 
out of those cities: the Interstate High- my mind that some of the press were 
way System, which enabled white fac- 
tories to leave the cities: and the Aid to 


Dependent Children provisions in the 
welfare 


out to get Richard Nixon right from 
inauguration day. 


fare laws. The accumulative result 
was urban decay, rising crime and fam- 
ily breakdown for the blacks. 

Mr. Moynihan's solution was to try 


The wirer is author of "Villages” and 
the forthcoming “The Villagers,” to be 
published in November. He contributed 
this comment to the Herald Tribune. 



Ul M]£tZ Si \V ASHl NGTON —This year “will 

■w n . e 031116 ^d the W be a great year for nonincum- 


Nixon on Republicans in ’ 96 : Watch Dole and Wilson 


!™._ p i^ denl out and came bents," Richard Nixon opined a' few 


By William Safire 


S2, to open th^door for fiWE 

Sr^Upk the White House 

staff and wait inside. Cameramen mS 


Vu%l time they had seen a 


a car door fwhiswife 
They recalled how John Kennedy would 
get out and stride away as Jackie called 
Xrom the car, “Jari n»:* r~- — ■« 


‘Jack, wait for me!* 
Garneu Horner, the Star’s courtly 
White House correspondent, asked me 
to stay on and help with the transition 
— all those Democrats to be replaced 
by Republicans — and do the policy 
onefmgs of Henry Kissinger and Dan- 


momhs before his death. “People want 
change. Clinton asked for it; now the 
country is going to demand it." 

But to a man who won four out of 
five national races, matching FDR's 
record, the focus had to be on the 
national ticket in 1996. 

“Lamar Alexander would be an ex- 
cellent president. It’s early for him, 
though. Jjke Carroll Campbell or 


Tommy Thompson, be may be VP.' 1 
Mr. Nixon then came up' with 


up with a sur- 
prise: “In '96, we should have a woman 
on the ticket. It doesn't do anything for 


his voice and his sense of humor, he has 
a good shoL" He thought about that 
and pointed to my notebook, to make 
sure I wrote it down: “Dole likes peo- 
ple, you know." 1 have an underlined 
note: Dole likes people. 

“Kemp has the problem of a young 
star fading, but he has enthusiastic sup- 
porters and that's £ 0 od. To get over the 
question about being heavy enough, he 
has to travel, make himself more of a 
world figure. No more Johrmy-one-note 
on economics. He's an attractive candi- 
date and has to win an earfv primary." 


Onedat 

appointed scientific advisers. At lost 
two were transplanted Europeans, and 
their wives ana children were an oddly 
dressed, nervous-looking lot, almost 
like refugees. The ceremony over, the 
camera lights went out, the press left 
and for some reason I lingered as Mr. 
Nixon, no longer being photographed, 
went over to (mat in a kindly, reassur- 
ing manner to the children. 

There were a few other such mo- 
mots in the nine months I spent at the 
Nixon White House, usually on Satur- 
day mornings who only a skeleton 
staff of second-rank reporters were on 


governor. 

Executive experience." 

He grinned at the thought of the 
New Jersey governor as vice president: 
“Christie whi tman would be a real 
sleeper on the ticket." He liked the way 
she rose to a crisis: “She showed great 
presence during the Rollins flap.” 

What should she do? “Get to New 
Jersey's Issues — crime, welfare. 


drugs. Be progressive but conserva- 
ivel abroad to get New Jersey 


business; that's always a good excuse. 


live. Trav 

ays; 

Then come back and talk to the New 
York Economic Club." 

To the tO|> slot: Is Bob Dole the 


front-runner? “Yes, and if Dole keeps 



Mr. Nixon thought Dick Cheney, the 
defense secretary who won a war. was an 
homme sibieux but was “a beltway can- 
didate" — the approval of the Washing- 
ton Establishment was a negative. 

Pat Buchanan, one of his former 
speech writers? “Pat's a true believer. 
Third party, maybe." He thought Pat 
likely to split if the Republican Party 
backed away from its anu-abonioii 
stand, as it must do to win. “On abor- 
tion." said Mr. Nixon, “the slate 
should stay out of it. Don't subsidize 
and don't prohibit." 

Which brought up William Weld, 
the conservative but pro-choice gover- 
nor of Massachusetts: “He’d win if 
nominated," said Mr. Nixon, perhaps 
thinking of Nelson Rockefeller in 
1960, “but Weld would not be nomi- 
nated for president at a Republican 
convention. It's a social thing." 

James Baker he dismissed with a 
glare. Senator Phil Gramm: “Smarter 
(han most, but weak on the tube.” 

1 did not ask about Dan Quayle. who 
had not yet begun his run, but my guess 
is that Mr. Nixon would advise him to 
forgo a '96 candidacy and mak e his 
loyalist mission the keeping of the 
Christian right behind a Republican 
centrist — much as centrist Nixon did 
for far-right Goldwater in '64. 

Who’s left? “If Pete Wilson survives 


in California in *94, he will be nominat- 
ed in ’% and will be a strong candi- 
date," Mr. Nixon, the survivor, un- 
equivocally predicted “He’s very good 
on foreign and defense policy! Been 
everything — mayor, senator, gover- 
nor. A moderate on domestic stuff, but 
not a mushy moderate." 

Colin Powell? “Formidable. Intelli- 
gent, tough-minded, sound. Bui Republi- 
cans would want him for the wrong rea- 
son, because he’s black. Blacks will keep 
voting liberal because they're poor." 

A wild card? “Perot is the Demo- 
crats' secret weapon. Gore’s victory in 
debate over Perot on NAFTA was 
good short- Lenn for the Democrats, 
bad long-term. They need Perot to stay 
in because two- thirds of his sup pen are 
Republicans. This time, let him buy his 
own time, deny him debates." 

Would Hillary be a campaign issue? 
“Leave her alone, she’s effective." 

On the other hand, Mr. Nixon re- 
called, “When we met, I told her about 
a ballplayer from Arkansas, ‘Arky’ 
Vaughan. But she never heard of him. 
Can you imagine? Hall or Famer. life- 
time batting average .367." 

I looked it up afterward. Arky 
Vaughan, Pittsburgh shortstop, had a 
lifetime average of .318. We often had 
to straighten out Richard Nixon’s sta- 
tistics. but on political assessments he 
was pretty longheaded. 

The New York Times. 


Why the Master Stood Firm 

LOO 

By Barry James 



P ARIS — It's a safe bet that Winston 
Churchill personally approved the 
name “Operation Overlord 7 ’ for the 
Normandy landings half a century ago. 
It was a much better suggestion than the 
previous choice. “Round-up" — but 
then, Ch urchiH was always a stickler for 
precise and colorful language. 

He has come in for a lot of critical 
biographizing and “demyibolqgizmg" 
recently, some of it aimed at cutting him 
down to size, sociologically speaking. 
He has been accused of racism, gluttony. 


Restaurants. 1 Everybody associates the 
word ‘restaurant’ with a good meaL and 
they may as well have the name if they 
cann ot get anything else." 

Churchill told the minister of 
works,“W* most have a belter word than 
‘prefabricated.’ Why not ‘ready made ’ T 
Churchill had no patience with long- 
windedness. He frequently asked his 
correspondents to confine their ideas to 
ne sheet of paper — if they had the 


MEANWHILE 


soda! Darwinism and a host of other 
faults. But no one has dared question 
bis use of English. 

Not only did Churchill raise the arts 
of invective and exhortation to new 
heights, but be often took time out 
from the pressures of war to admonish 
officials up with whose grammar he 
would not put. 

“Why must you write Intensive' here? 
‘Intense’ is the right word," he wrote to 
the director of military intelligence. “You 
should read Fowlo-'s Modern English 
Usage on the use of the two words.’ 1 ' 

Coming back to Overlord, Churchill 
insisted that no code names should be 
approved for military operations until he 
had had a chance to see them. He rejected 
names he considered to be vainglorious, 
frivolous, despondent or ordinary. 

"The world is wide," he said, “and 
intelligent thought will readily supply an 
unlimited number of well-sounding 
names which do not suggest the charac- 
ter of the operation or disparage it 
in any way and do not enable some 
widow or mother to say that her son 
was killed in an operation called ‘Bun- 
ny hug’ or ‘Ballyhoo.’ ” 

Churchill believed that small details 
like this counted for a Iol “An efficient 
and a s uccessf ul adminis tration mani- 


fests itself equally in small as in great 
mailers," he said. 


He was acutely aware of the symbolic 
value of words in keeping up morale and 
fighting spirits. Words, as the French 
culture minis ter, Jacques Toubon, now 
argues in a different context, help foster 
and form national identity. 

To the minister of food, Churchill 
wrote: “I hope the term ‘Co mmunal 
Feeding Centres' is not going to be 
adopted. It is an odious expression, sug- 
gestive of communism and the work- 
house. I suggest you call them ‘British 


time, that is. He was well aware that 
wri ting short is more time-consuming 
than writing long. 

He bemoaned the fan that “ministers 
and ambassadors abroad seem to think 
that the bigger the volume of their re- 
ports home, the better is their task dis- 
charged. All kinds of gossip and rumors 
are seat, regardless of credibility. The 
idea seems to be to keep up a continued > 
chat which no one ever tries to shorten.” 

“It is sheer laziness," be thundered, 
“not compressing thought into reason- 
able space." 

Churchill often could not resist the 
opportunity to poke a little linguistic 
fun. He urged the secretary of state for 
India to invite the Burmese premier, 
U Saw, to Britain in these words: “Cer- 
tainly let an invitation be sent, provided 
that in general you see U Saw.” 

Churchill disagreed with an order tell- 
ing the population that they should 
“stay put* in their homes in the event of 
enemy attack. “Fust of all," he told the 
minisier of information, “it is American 
slang; secondly, it does not express the 
fact. The people have not been *put' 
anywhere. What is the matter with 
‘stand fast,' or ‘stand firm'? Of the two 
I prefer the latter." 

The old statesman fought a losing 
battle with the way other nations pro- 
nounce the names of their cities. He told 
the foreign secretary that “Leghorn” 
was the proper way of naming the Ital- 
ian city m English, but that “if at any 
time you are conversing agreeably with 
Mussolini in Italian, ‘Livorno’ would 
be correct" 

Later, he wrote to the Foreign Office: 
“I do not consider that names that have 
been familiar for generations in England 
should be altered to study the w hims of 
foreigners living in those pans. Where 
the name has not particular significance 
the local custom should be followed. 
However. ‘Constantinople’ should never 
be abandoned, though tor stupid people 
‘Istanbul* nay be written in brackets 
after it As for ‘Angora,’ long familiar 


ir- 

.es 

ay 

ire 


es 

a- 

Dg 


50 

de 


of 

iy 


4G 

ng, 


at, 

K. 

S 


with us through the Angora cats, 1 wall 
it of my 


LETTERS TO THE EDITOR 


For a Democratic Union 


Regarding “ For the European Union to 
Work, AB Members Can't Be EquaH 
(Opinion, May II) by Giles Merritt: 

Yes, the iadivKlual countries <& the 
European Union should be given 
weighted voices, "based on pcmu&rion. 
But this cannot be the sole guamng prin- 
ciple for so large a political structure; 
population size wBI be looked at as an 
arbitrary criterion at best Mr. Merritt’s 
proposal to rank countries by some mea- 
sure of development sounds even worse. 

The weaker countries need some pro- 
tection from the stronger ones. A realis- 
tic option could be the American solu- 
tion: a European Cong ress w ith a House 
reflecting population strength on the 
one side and a Senate representing polit- 
ical equilibrium on the other. 


Top EU Job” (April 28), we are told that 
the Belgian Jean-Luc Dehaene is the 
choice of Chancellor Helmut Kohl and 
President Francois Mitterrand to be- 
come “president" oi Europe. 

But when will the people's will be 
considered? l am amazed that we Euro- 
peans casually stand by as unaccount- 
able political flunkies are forced upon 
□s as our leaders. 

A few years ago, I was awaiting Jac- 
ques Ddors’s departure as president of 
the European Commission when I read 
that his torn bad been extended, just 
like that Who decided? Is this a democ- 


racy or even a system of representation? 

or the EU 1 demand the 


As a citizen 

right to vote for its president. 

THOMAS SNYDER. 

Brussels. 


JOSEF ERNST. 
Berlin. 


An Award for Fay? 


In the news report “Belpum’s Arch 
Survivor Becomes Contender for the 


Instead of four ladies, Michael Fay 
should have received an award from the 
government of Singapore for daring to 


attack the most sacred symbol of mod- 
ern times: the private automobile. 

A mass spray-can attack on care in 
Singapore would do a lot more to solve 
Singapore’s traffic problems (by forcing 
people to leave their care at home) than 
that city’s widely touted, though ohiy 
partially effective, road pricing system. 

WOLFGANG ZUCKERMAN. 

Qoissac, France. 

It Works for Singapore 

Regarding “ Singapore Isn’t Tidied by 
Caning’ (Opinion, May 3): 

If Stan Sesser’s intent was to argue 
against Singapore’s law prescribing can- 
ine for acts of vandalism, he did a better 
job in h ighl ig hti n g how Singapore is free 
of crime and graffiti because of its “Or- 
wellian propaganda” and its enlightened 
strategy of giving all Singaporeans a 
stake m. society and a part in the econo- 
my. Like it or not, Singapore law, strict- 
ly enforced, is effective as a deterrent. 

CHIA YOKE LIAN. 

Seoul. 


Why so much fuss? We Europeans 
and Americans should dean up our own 
backyards before complaining about 
Singaporean justice. And it goes without 
saying: If one lives abroad one should 
know how to behave. 


For my money, W. B. Yeats is the 
greatest poet of our centuiy. and his 
fellow Irishman Seamus Heaney, born 


Nixon in Plain Terms 


the year Yeats died, is the best Irish poet 

! lan- 


ROLAND FUCHS. 

Bomba v. 


since then. His earthy, evocative 
guage — and criticism —get my vote for 
the next Nobel laureate. 


The Poetry of Praise 


JOHN PINSCHM1DT. 

Stuttgart. 


The fact remains that Richard Nixon 
was a liar and dissembler from the start 
to the finish of bis political career. 

• • • David lumberman. 

Paris. 


The Good Doctor Bows Out 


Regarding “Ne m- and Collected Poems, 
by Geoffrey HiU " (Books. April 8} 
by Michael Dirda: 

Geoffrey Hill probably is the best 
English poet of our century and deserves 
the Nobel Prize for Literature. 

1 hope it's not churlish to note that the 
liveliest, most memorable quotation in 
the review was not from Mr. Hill’s works, 
but from a poet who praised him, Seamus 
Heaney: “HiU addresses the language 
... like a mason addressing a block 


Peace Process, in Bronze 


... Words in his poetry Tall slowly and 
solder, and accumu- 


singly, like molten 
late to a dull glowing nub. 


Congratulations to Patrick Baz of 
Agence France- Presse for his monumen- 
tal photograph on Page 1 of your May 5 
issue. A pity Rodin is not alive to perpet- 
uate in bronze ihc postures and expres- 
sions of Messrs. Shimon Peres, Andrei 
Kozyrev, Yitzhak Rabin, Amr Mussa 
and Hosni Mubarak, confronting the 
stormy petrel of the PLO. Y asser Arafat 
A memorable picture beca u se it’s all 
there: spirit substance and symbol. 

WILLIAM GREENWAY. 

Paris. 


Please bring back Rex Morgan, M.D. 
The themes were always current and 
timely, the advice sound. He was profi- 
cient and personally interested in his 
patients, a rarity these days. The comic 
strip sets a good example of personal 
id ethical conduct for alL 

D. P. EB RIGHT. 
Zurich. 


resist to the utmost of my power its 
degradation to ‘ Ankara .' " 

Churchill went on: “You should note, 
by the way, the bad luck which always 
pursues peoples who change the names 
of their cities. Fortune is rightly malig- 
nant to those who break with the tradi- 
tions and customs of the past. As long as 
I have a word to say in the matter 
‘Ankara’ is banned, unless in brackets 
afterwards. If we do not make a stand 
we shall in a few weeks be asked to call 
Leghorn ‘Livorno,' and the BBC will be 
pronouncing ‘Paris’ Paree. Foreign 
names were made for Englishmen, not 
Englishmen for foreign names. I date 
this minute Sl George's Day." 

When Franklin -Roosevelt decided to 


■Oat 

uita* 

M D 


J 74 


a - 

an, 

ttrin 

Tefc 


m.) 


mgs 

IAIN 

BOW 

n36 


call the proposed world organization the 
United Nations instead of the Asa 


the Associat- 
ed Powers, as had been suggested, Chur- 
chill was delighted. 


an 


“I thou|*huhi5 a great improvement, ‘ 


Yes, Rex Morgan was dated, psycho- 
incredible, 


logically 


clumsy, less than 


realistic, stupid even. May I suggest that 
these were the : 


: reasons people read it? 
JEFF EASTERSON. 
Palermo, Italy. 


he said. I showed my friend the lines 
from Byron’s ‘Guide Harold’: 

•Here, where the sword United Na- 
tions drew, 

*Our countrymen were waning on 
that day! 

‘Ana this is much — and all — which 
will not pass away.’ " 

International Herald Tribune. 


BOOKS 


BRIDGE 


THE WAR WITHIN: 
America’s Baffle Over V iet 
pain. 

By Tom Wells. Illustrated 706 
pages $30. University of Califor- 
nia Press 
Reviewed by 
Herbert Mitgang 

it q history continues ro 
^ m Weiinto th7new books not 


why U. S. armed forces should or 
should not be used. The authorita- 
tive private Center for Defense la- 


WHAT THEY'RE READING 


formation in Washington sags 


TOQUE 


£ 

unffMBOURG 



lo subscnb® 
andsove- 
Justcall 

08002703 


there are 24 “hot” wars around 
worid today. 

The humb ling U. S. defeat in 
Vietnam suggests two conflicting 
courses of action. It is mentioned as 
the reason not to get embroiled 
again and, conversely, to get over 
the Vietnam syndrome and restore 
U. S. power and prestige by nriH- 

tary means. 

The Gulf War and the current 
war in the BaD fBT1 - 15 offer examples 
of both involvement and hesita- 
tion. Deciding on the threshold foe 
armed engagement remains a 
daunting challenge to Washington 
and UN policymakers wherever 
nationalism, ethnicity and tribal- 
ism now prevail. 

The current young generation, 
with little knowledge of the mood 
of the United States dumg the 
Vietnam War, will be startled by 
the anti-government fa^s assem- 
bled by Tom Wells in “The War 

Within-*’ , , 

Wells, a sociologist who has 
f flngh t at colleges in Cabfonna, has 
wrinen a long and mostly even- 
handed chromde of the 10-year 


• Votaries Oidouhod^&n, an Ar- 
menian priest Kving in a monastery 
in Vance, is reading “ Selected 
Writings^ify Edith Stem in French. 

“It addresses many spiritual and 
philosophical matters in a challeng- 
ing way. Our monastery is on the 
island of San Lazzaro in the Venice 
lagoon, and reading this book has 
been a great help to my medita- 
tion.” 

(John Brunton, IHT) 



war on the borne front both for and 
against the Vietnam adventure. 

He has unearthed documents 
md interviewed dozens of oppo- 
nents of the war and fanner gov- 
ernment officials, some of whom 
have second thoughts about their 
fiery wartime positions. The result 
is an invaluable record of an unfor- 
gettable U. S. calamity. 

Here are the marches on the Pen- 
i and the battles in the streets, 
, the United States was divided 
between prowar “hard hats" and 
antiwar “peaceniks,” or “hawks" 
and “doves." 

On the command kvd, here is the 


dash between the administrations of 
Lyndon B. Johnson and Richard 
Nixon and a great cross section of 
Americans, including students, 
teachers, the clergy, lawyers, doctors 
and Women Strike for Peace. 

Most poignant of aH here are the 
Vietnam Veterans Against the 
War, who camped in Washington 
and threw away their Purple Hearts 
and medals for heroism as a protest 
against the expansion of the war by 
Nixon and Henry A. Kissinger, hi's 
national security adviser and later 
secretary of state. 

Even these who experienced the 
Vietnam War at home will be re- 


minded of long-forgotten incidents 
by "The War Within." Wells re- 
calls the effort by the Nixon ad- 
ministration to embarrass Philip 
and Daniel Berrigan, the Catholic 
priests wbo played a leading pan in 
urging draft resistance. 

A bizarre plan was concocted in 
Washington in 1972 with the help 
of the director of the FBI. J. Edgar 
Hoover. Philip Berrigan and six 
other people were accused of a con- 
spiracy to kidnap Kissinger and 
blow up underground steam tun- 
nels in Washington. 

The trial of the “Harrisburg Sev- 
en" was deliberately placed in U. S. 
court in Harrisburg, Pennsylvania, 
which was considered solid Nixon 
country, but in the end, the jury 
didn't fall for the incredible kid- 
napping and conspiracy tale. 

In addition to the marches on 
Washington by hundreds of thou- 
sands of people, many individual 
acts of resistance in and out of 
government are recalled in "The 
War Within." Undersecretary of 
State George W. Ball fought be- 
hind the scenes against the war 
buildup; Adlai E Stevenson, (he 
chief delegate to the United Na- 
tions, was accused of being soft- 
headed when he advocated a nego- 
tiated settlement as earlv as 1964. 


Among journalists, columnists 
and television commentators op- 
posed to the war and especially the 
civilian casualties caused by' B-52 
bombings were sometimes derided 
by their colleagues and superiors. 

Wells writes: “Many U. S. politi- 
cal and military leaders came to 
conclude that, to exorcise the Viet- 
l drome, the United States 


□am sync 
should apply its military power 
massively, overwhelmingly and de- 
cisively in any intervention over- 
seas." "Such was the case with the 
Gulf War, about which President 
George Bush said that America had 
“kicked the Vietnam syndrome 
once and for all." 

But the author quotes General 
Colin L. Powell, former chairman 
of the Joint Chiefs of Staff, on the 
subject of undertaking limited air 
raids in the former Yugoslavia to 
protect Muslims from Serbs. “As 
soon as they tell me ‘surgical,’ " 
Powell said two years ago, “7 head 
for the bunker." 

"The War Within" deserves to be 
read and pondered for the lessons it 
provides about the surprising pow- 
er of ordinary citizens to make and 
break wars and presidents. 


By Alan Truscott 

T HE diagramed deal was 
played in a duplicate game at 
the Manhattan Club, and reported 
by Dr. Paul Metz of Brooklyn. 
South had one of the rare hands on 
which a direct leap to four no- 
trump makes sense in response to a 
one- level opening. Even so, he was 
headed for jeopardy in five spades 
when his partner showed one ace. 
North, hungry for match points, 
then increased the danger by con- 
verting to five no-trump. 


The only fatal lead was a dub, 
and it happened that that was an 
easy choice for West. With little 
hope. South played low from the 
dummy and East took the king. He 
shifted disastrously to a spade, fail- 
ing to draw the inference from the 
bidding that South must be missing 
two aces. 

Grateful for the reprieve. South 
took all but one of his spades and 
reached this ending: 


X 

o 

3- 

IX 

le 

1- 

JX 


CS 


WEST 
*B6 
<?85 
0 A 10 7 5 
* 10 9 8 3 2 


NORTH (D) 

*4 

<? K Q 10 6 2 
A K J 8 3 

♦ A 7 6 

EAST 

6 5 

U A J 94 3 
O Q00 2 
*K54 
SOUTH 

♦ AKQJ 108732 1 
07 

O 4 

*QJ 


WEST 

* — 

P8 
O A 
♦ 98 


NORTH 
♦ — 

<? — 

OKS 

♦ A 7 

EAST 
♦ — 

O A 3 
5 Q9 

SOUTH 

♦ 2 

7 

94 

*Q 


9M8 

317* 


Both sides were vulnerable. The 


Herbert Mitgang is on the staff of 
The Nevi York Times. 


bidding: 

North 

East 

South 

West 

1 57 

Pass 

4 N.T. 

Pass 

59 

Pass 

5* 

Par® 

5 N.T. 

Pass 

Pass 

Pass 

West led the club un. 



South led his last spade, for 

West to pan with his heart, 

cashed the dub queen. This was a ' 
stepping-stone squeeze, for a dia- 
mond lead now used West's ace as 
a stepping-stone to score the club 
ace at the finish, making the con- 
tract, 


sa? 

act 

ill? 

LE 

usV 


3pe, 

asia 

a! 


;d 

am 



Whether you're trying to reach another country arerscs. or call back to the US.. Sprint Express' can help. Just dial the access code of the country you re m to reach an EnglislKpeaking Sprim operator, 
customer" All you need is alii, local calling canl nr WurldTraveler FONCARD^ 1 if inure calling the U.S.. urn can eien call collect. But next rime you call, use Sprint Express. It can make foreign 


\bu don't even have tn he a Sprint’ 
countries seem a little less foreitmJ 


AnerianSsnu 

o Antigua 
Argentina 
Austnfia 
Australia 
+ Austria 


AtUi fwAw 


Belize (Hoiell 

BdLKirtTtwpii. 

/Bermuda 

Bolivia 

Brazil 

^British Virgin M. 


633-1000 

SO 

OOWtffl-777-im 

M&-S5WW 

00W-WW77 

mmm 

uoommi 

mm-m 

078-1E-0014 

■oft 

*4 

I-WM2MK77 

fWXklUl 

OOO-HOlh 

UMUTMOM 


Ode 

0000317 

AHonghuag 

Oil 

o Macao 

0800-121 

+ ftjfand 

00 IM 8 WM 5 

/ +Qiinj 

IUM- 1.1 

+ /HuiiEarj 

00 * 800-01477 

flVldnsa 

800-0016 

+PHtngai 

050171877 

Colombia- E ji« list 

980 - 13-11010 

■(■India 

0 BIJ 37 

Mnicn 

^>>< 00 - 877-80110 

^ Puerto Rico 

immm 

fokrabb-Spunidi 

480-04110 

Indonesia 

00 - 801-15 

+ Monaco 

( 9*0087 

+ ft Romania 

W 4004877 

iCiisiuRicu 

1 M 

x Ireland 

MHO-B- 200 I 

FiVe&eriands 

06*0224119 

+DRnstii 

8 - 095 -E 54 Q 3 

+>Cjprvs 


^ Israel 

FT-W 2 - 27 I? 

t Netherlands Anidks UHHOFBMIH 

+RttS 5 b{Mttscwf| 

1554133 

+C*«h Republic 

MU 2 -IH 7 I 87 

+ Italy 

T 2 -W 77 

New Zealand 

umi-w 

+ Slips* 

235-0333 

TDeamatk 

MU 877 

t Jap.w 

<m'w w 

Nkarsna 

02-163 

+fV Than and Raia V 23>0333 

A Dominican Republic 1 JSfMl. 7 .*I -7 877 

- Japan 

WlhnO.'^-tfF 

0 Mcnsgaa f Maogaa) lb! 

+Sra Marino 

172 -B 77 

Ecuador 

n 

/Kcma 

IINKH 2 

+Nonwy 

D 5 IM 2477 

Saudi Arabia 

1 NXM 5 

+0 SaJvalor 

l‘»! 

♦ * kofva 

IKN-lft 

Panama 

115 • 

+ Singapore 

8000 - 177-177 

+ Finland 


tkllTKl 

SWISS 

AO Paraguay 

ihls- 12 -KriO 

✓ + Sooth Africa 

0400 - 994)061 

+ France 

10*11087 

tKmta 

550 -FUNK 

/frru 

1 % 

Spain 

WO-W-OIID 

+*Ganan> 

(ILIMUO 

~Kinra 

IM.W -13 

Philippines 

W 5-01 

ASt.Lada 

87 

+ Greece 

nwwHiwn 

kuwail 

SHI -777 

lETPInatioastwh 


+ Sweden 

02 D. 799 -OI 1 

+ filial LfflEib 

i'f 

- Ucv'biculcin 

155-9777 

✓Philippines 

102411 

+ Switzerland 

155*9777 

▲Hondura 1 - 

iDi-mjJljrni 

yiilbuanb 

8*107 

IPMCoib) 


oTawaa 

0080-144877 

liong Rons 

800-1877 

Ijui-mhiHiix 

UMXUII 15 

Philippines rh jiii 

105-16 

✓Thailand 

jHU^i.VfTT 


woCubafia AmMi 32110 
-Cauda WWW778000 

j/yhhLj LuttwsutiKti * tfaw fix cu^wt numb,** custom* MfwiCr i.n aadttrot nunftets aStheSunm Access Numto oUhecomlrv »oure n. orV8f»«n-W6ahiienBie US 


° Trinidad iTotaao 11 
+Turlfy ‘ 00800-14177 
4- llnted Arab Enoses 800431 
United Kingdom ,w 0500490-877 
United Kingdom m i 0800490-877 


-USA 

'•UJL Virgin Islands 140047^8000 1 
^Uruguay OftMp 

+VS*kanOly 172-877 

Venemeb-Ei^lish KlKHilH) 
VVnezuria-Spanish MKHIIl-l 


iphe 

)ma 

mon- 

□pak 


td. 

net, 

es. 



Bold dennes 


Sprint 

Be there now. 


ma»v taoiirtry ctfhvj JoKM y ~ ' *. ^ r.hwi rjmnn Wi miwner & PIN fposuna’ itfefmr ^i- 1 ' r ' , i"P*? t - C>Mhi Cai'ig rales apply ♦ Wat tor second KW +Pur*c phones may iwjutre coin or cant 

l»n wwi may nW sencui cow Cfl operaw mt e?rtiarr? ~ PONCaMj Cc«ect colls U S wiwnaror 


Tsiabfe test pay phone, ■ Eastern ponw may iMuifv»«iaictw> i 
stones, pah red button mi to we. men ad CC» i Art 4jbfent in*wy pnui« « j w wciuwi r ni 


tenrenentmortv -m some aieas as* uv krai □DerBD'io cornea you to to SpnmOpaaBr. *• Frost pay 

.•iboieum southern pcfienonh 1 1 Locallrrig nsiaKp ctwpes mov at<i*v 


IN 

% 

UMU 

»" 



ft * 1 

Hi 


w 

Wi» fid ' 


teSsi 1 


III!, 

I=£ : 

kf: 

%'• »£ 
U i ; :;i 

i y m 14'- ; ■ 
lv v a »4'-i 


vM* 

i ■;.* *:t- 

i2>i ii 1 1' 

£■?! - g- 

J J . .! ■ tl 




J-.S' 

pif:| 

jSiFig 

R iViW 1 

}}=: 

si>! 

*;;•<? 1 

«n-; ii- • I? 
■>> ?:& 
s::!r|s 


:?•; . :!b 



Iniemafi'Vhil Herald Tribune 
Friday . V</r /A /W 
Page# 


A A 7 A S 



A Philippines Paradise 


Y - tH e 

■ ,v- 



Bv Sherry Buchanan 


P AMALICAN ISLAND. Philippines 
— I left Hong Kong cranky. The girl 
on the phone taking mv reservation 
to this new dream island-hotel had 
not been helpful at all. So 1 would have to 
waste a few hours in Manila airport (nobody's 
idea of fun) to wait for the only connecting 
charter flight to Pamalican. They had to con- 
sider the Tokyo and Singapore flights too, she 
said. Fair enough, as dial's where most of 
their business comes from. 

At close to $500 a night. 1 thought sbe 
could find a better excuse and at least offer a 
private charter. But she didn’t: she was defi- 
nitely a product of the bubble economy and 
had yet to discover the meaning of low- 
occupancy rates. 

On top of that 1 was traveling on Lhe first 
day of the Chinese New Year of the Dog- 
auspicious for the Chinese but the only dog 
reference 1 could think of was. "It’s a dog's 
life.” 

When 1 got to the small airport where 
guests board the twin-engine plane for para- 
dise. the sign read: “The following are pro- 
hibited on board: fresfa/dried fish, pets [pic- 
ture of bird], explosives, intoxicated persons 
and persons with contagious disease [picture 
of a spotty face].” I feared the worse. 

Once on board it was hot and the small 


plane had no air conditioning. Resignation 
set in. Fasten your seat belts and welcome to 
another episode of P.J. O'Rourke's Holi- 
days in Hell. 

Cut. 

The camera moves to the opening shot of 
the plane landing on Pamalican Island, one 
of the Cuyo chain in the North Sulu Sea. and 
home to Amanpulo. a resort of 40 •■pavil- 
ions'' built in a modern version of the tradi- 
tional Filipino bahay kubo. 

Opened in December, it is the fifth and 
newest Amanresort, which, in Asia, is a new 
concept in small luxury hotel design and 
pricing- Other resorts are in Phuket in Thai- 
land, Bali and Moya an island near Bali. 

As I set foot on the dirt runway at dusk, 
with the backdrop of a sea made emerald 
green by the coral reef that surrounds this 
small island, the magic set in. 

Amanpulo or “peaceful island” ranks 
high, even by island-retreat standards. 

“Most of our guests become addicted.” the 
guest relations person told me when she 
showed me to the secluded, softly lit pavilion 
in shades of white and toast, a bottle of 
champagne in its ice bucket waiting and an 
electronic harp playing in the background. 

“How do 1 turn off the piped music,” I 
asked in a last panic attack brought on by 
remnants of urban stress. .After all, I was 
a refugee from the music-filled shopping 
malls of Hong Kong and I was worried 


at not bong able to control my own sounds. 

She looked at me with a smile of indul- 
gence and showed me the compact disk play- 
er — of course, it wasn’t piped in. how silly 
of me — and informed me that there was a 
CD library to choose from. 

One guest had already become a legend, 
sbe said. He came to stay for a few days and 
stayed for 45, which must have cost him the 
equivalent (with extras) of a starting year’s 
salary for last year’s MBA class. This could 
be an expensive habit but then, these days, 
seclusion has become the ultimate luxury. 


He reef is weH preserved 
Filipino standards: m many cither pam2 
Palawan, fishermen Tim beffl-dynainiS:* 
fishing, leaving dead coral debns asaleg^V 

The palms had (he 'perfect rWindnifti 
look, and you could have sworn TjaDsfij - 
kept touching op the caystatdear.waS 
shades of aquamarine, sapphire biu^c^T-' 
aid green turning to silver andgoldtoWanr 
evening, with the mountainous islaajf its 
Manamoc as the perfect backdrop. . 1 7 --j_ > 


N IGHT set in. With a son et haniere 
spectacular of rustling palms and 
shooting stars. Amanpulo re- 
mained m near-darkness save for 
a few d ramaticall y hi trees and columns. On 
the beach, microscopic specks of fluorescent 
turquoise plankton glowed like stardust 
“Tve never seen a hotel that is so much 
like a film set, the lighting is extraordinary,” 

' said Framaimri de la Baume , a French busi- 
nessman based in Hong Kong who was stay- 
ing at the boteL 

Midmoming at Amanpulo, not a soul on 
the beach. Translusceat white crabs with 
eyes on stilts scurry across the beach, while 
pastel -colored hermit crabs take their time. 
Bits of white and pink coral and perfectly 
formed shells wash up on the bead} from the 
coral reef. 


at the sea bran their private wooden tfecfcj 
few guests drift bade to the beach eta, 
where “no problozK)” Nicky, 'a 'HipjfvJ 
brought up in Hawaii and nmr _i. » 


mZCS wiling , fishing , water skirn^ (fagT. 
snorkeling. V "l - - l h " 

“This is the kind of place where i W 
comes running toward yon with atoweHfc 
minute you step oat of the water,” W 
Torqofl McAipme, a Seoul readem -who 
came for a few days with his f andly. ; j 

Nothing seems perfect to evoyonc i&att* 


Sherry Buchanan is a journalist based & 
Hong Kong. ■■ * • 


Gourmet Cooking Classes, Junior Division 


rWiJSBwr-IHT 


By Susan Keselenko Coll 


What’s All This Noise 
About Anti-Noise? 


L ONDON — A semblance of basic 
culinary skills, coupled with some 
elementary French, might come in 
handy when following a recipe at a 
Cordon Bleu cookery class. Should either of 
these pose a problem, just ask one of the 
students for belp: 

“What’s itaat you are putting in the middle 
there?” one student is asked, referring to the 
creme ifamande used to fuse together a pin- 
wheel shaped pastry. 

“French pastry stuff!” is the confident 
reply. 

Meanwhile another student — dad impnes- 
avdy in a chefs hat and white apron bearing 
the insignia of this prestigious academy — 
seems precariously dose to tears as he strug- 
gles to shape his wad of dough into something 
resembling a croissant. Summoning the in- 
structor to his side he cries: “There’s too much 
flour on this. I can’t seem to stick it together.” 

One pupil, who has already filled her tray 
with delectable if not precision-made past- 
ries, impatiently awaits the next instruction 
with one hand on her hip. noisily licking bits 
of batter of the fingers of the other. 

If such behavior falls short of the mark 
one might expect from an institution that has 
produced the likes of Julia Child, go easy. 
These are not your average would-be pastry 
chefs: these are students of Les Petits Cor- 
dons Bleus. and some of them are lucky just 
to reach up to the table. 

Following the success of a similar pro- 


By Lawrence Malkin 

International Herald Tribune 


N EW YORK — I am a noise nuL 
Even worse, 1 am condemned to 
live in New York, which, if it is 
not the noisiest city in the world, 
must hold the record for aggressive assault 
by police and fire sirens, car alarms and 
truck horns, boom boxes, after-hours street 
merriment, noisy neighbors on the other side 
of thin apartment walls, and other aural 
tortures as yet unimagtned. 

As I write this, a little marvel called the 
NoiseBuster is damped to my ears. Its man- 
ufacturer, Noise Cancellation Technologies 
Inc. of Stamford, Connecticut advertises it 
as the most up-to-date counterforce to back- 
ground noise, a high-tech miracle once made 
at great cost only for fighter pilots to screen 
them from the screech of their barrel rolls, or 
whatever it is they do to annoy the rest of us 
rat the ground. 

This gadget consists of a nattily designed 
set of earphones attached by wire to a clip- 
on battery box with a computer chip inside. 
Inside this grayish-brown box is some kind 
of mixer that sends out mirror-image waves 
canceling out the sound waves in the lower 
frequencies. When this roar is attacked by an 
anti-noise wave (that’s what they call' it), 
presta “the offensive noise is reduced.” 

In fact, it sounds something like what you 
bear when you dose your eyes and hold your 
breath for 30 seconds. Not even white noise, 
just gray. NoiseBuster also cancels out one 
of the few sources of solace in New York — 
the roaring traffic's boom, to say nothing of 
the silence of my lonely room, if I may 
borrow from Cole Porter. 


The device concentrates on eliminating 
only the lower registers, so every decibel of the 
high-pitched noise that really rattles the back 
teeth is still there. And without the low- 
frequency counterweight, the sound attacks 
through the earphones even more pernicious- 
ly, like fingernails raking across a blackboard. 

I first tried it out at home in the hope of 
screening out the vacuum deaner and the 
dishwasher as wcD as the low-level street noise 
of Madison Avenue, against which it is sup- 
posed to be equally effective. It was powerless 
against the racket of Saturday afternoon 
cleaning, although it did moderate the vroom 
Of the bases gunning up the hill past the 
Morgan Library. But “Madame Butterfly" 
happened to be on the radio from the Met. 
and Lieutenant Pinkerton, his baritone vibra- 
to stilled, ended up sounding like a castrato. 

To be fair to the NoiseBuster. its makers 
admit it is not helpful in the higher registers 
and is designed to be particularly useful in 


screening out the noises of traveling by car. 
train, boat, plane and (better not tempi fate in 
New York) subway. A yuppie shopping cata- 
logue has stepped up the pitch with the ap- 
proval of a spokeswoman for Noise Cancella- 
tion Technolog es and claims the headphones 
“block out the drone of air travel — leuing 
you arrive fresh, alert, and in a better mood.” 

1 tried it out on a flight and you can see 
what kind of mood I am in after paying $149 
(battery and postage extra) to cany yet anoth- 
er piece of electronic gear in my h3g, and an 
awkwardly shaped one at that. It doesn’t 
caned out the really offensive noise at all 

Silting five rows behind me on the flight to 
Washington were three high-pitched, natter- 
ing yuppies. Once I put on my NoiseBuster. 
every inane word they said reached me with 
great clarity. Turn it off, and they faded partly 
into that familiar airplane roar enfolding a 
passenger with its reassuring power, but 
which NoiseBuster converts into a hiss. 

There are some things in modem life it is 
better to learn to live with, and an expensive 
gadget that distorts the familiar into the mere- 
ly annoying is not one of them. 


To our reoders in Great Britain 

H'i newer been rawer ta subscribe 
and save. Just call tall-free: 
080089 5965 


■ Old rock guitarists don't go (o 
heaven, they go to strum-a-thons. Reuters 
tells us 1,322 guitarists strummed 
three chords of “Taking Care of 
Business" for 68 minutes 40 seconds 
in a call-it-whatevcr-you-wanl at a trade 
show in Vancouver. This set all sons 
of records: It was (they say) the greatest 
number of guitarists who ever played 
together and the first lime the same song 
had been played for so long (we 
thought folk musicians held that record, 
but never mind). Largest previous 
gathering: 545. “Hang On Sloopy." 45 
minutes, Columbus, Ohio. 


HOLIDAYS & TRAVEL 


CAMPS 


WHEN M JERUSALEM STAY M The 
Three Arche Hotel Mogifen view, 
fflnftd location. Enpr the Wend of the 


SUMPS/ 


m 2 


complex $ unique imj L diid oditec- 
rurd wonder, modern mattes & 


COTE D'AZUR 
SUMMER RENTAL 
CAP D’ ANTIBES 


MUSS traSAY, !8th century town- 
hoise. 80 vjjil, o’ourxt Boor. tree*. 
5mw. noJOQ-'oo. Tel 1-4SW 0131 

SRI-LANKA 


NEAB GA11E, SOUTHWEST COAST. 
SEASIDE VILLA in 3.000 jam. p** 


jporh fodiftm. A1 for $95 BAB o«Jy. 
GJ «cut trowel ogert or The Three 
Arches Hotel Jenuaien. Israel. Far 
972-2 2351*2 Tel 972-2-2571 1 1. 


Caring Etpenmeal Saif Excirig Fun Anmura 

rasimwarasrasusQ ■ jjbdmebscbe 

Adventure Holidays in Devon. Norton, 
London, Staffs & France 

'3£>y£ SrO’EtlAL 

BOOK ONE CHUBB? 
GET ONE Cm-MB JSJJ 


PHILIPPINES 


Attrotfrwe modem wjlo. sea 
Lorge roof terroce. 5 bedrarre. 

4 brats. Grater. jwr-rryn pod 
June: mm - !iA, F3S.0CC 
August FB8.T00 • SetSember W.OCO 


q/owa. 3 servants. Steeps 4/5 
165580/ week. AJ resr Tel- PARE 


USSSBO/week. AJ , era Tel- PARE 
J33-U *777 5223 Fat. 49.7 5036. 


NORMANDY 


ADMHAl HOTH, 2)38 teas Wwd, 
MaJa. PHTmnes, TeL 521071 1 . Tde* 
74240488 ADHOTB PM. Frr» doss. 
1 10 rooms forma Mania Bov. 


<3 JOHN 
TAYLOR 


HOLIDAY RENTALS 


43 bd After* ler. F-O6M0 MOm 
Contact: Vrami BAJSBBS 
Tab 133) 93 34 44 61 
Fax: (33) 93 34 00 SO 


FRANCE - NORMANDY 

Mognrhref’f l«h ceofury Mnor Howe 
on y acres. 15 mmees Deauw*./ 
Honflew. 1 115 rooms. 6 bedroone. 5 
bate, formal c&wg room, bmp 
rate B ypry. Sweeping lawns, fiord 

EOS 


LOW COST FLIGHTS 


AUGUST SUBLET Vienna large 6*oom 
opwtmwr awlreBv located, grand 
pwno. Cafl USA 9W90trl783. SI6C0 

CARIBBEAN 


ACCE55 VOYAGES 

One Way tend Trip 
New York F9M F1095 

London H00 F720 

& 4i£l mon desmaion! cound ««o»ld 
on 40 d*faenf scheduled omert 


STlBARTfOEMY. F.W.L.. OVER 200 
HBVATE VACATION VILLAS - beach, 
front to Mtede with pMb. Ou> agents 
now inspected at vBas penomlv. 
For reservations an S». Barfs. St. Mar- 
Im. Angudla, Barbados. MusOove. the 


CANNES - B»ra> CROSETTE - High 
doss SOD sq.ni. VBJA Avaicbic now. 
Weekly - Monthly . Yearly. Td own rs 
{33193*3 91 W.W l.y' 18SS0£ 
COTE D'AZUR. JULY - AUGUST, «Ua 
gporttnpnt. 2 double bed r oom s , pad 
Teh, C331 Teh 03 93 57 28 52. 
CAIWB, modern kiwjry jtuoo fla 


ROjBM - SARASOTA Siesta Kt, 
■Min retort with pizzazz on Heron 


Spring & Summer rates. Staring at 

T«tai34^5ll3far|l^34»5^1 us 


pool & gerdere rew beaches 
etc Seep 2-3, Tel 93?» Q172 


wT “Td 

S ; ts *’S 

}|U. If-, D 

h'i iH'i f 

S 

*S«is 

?"• P,\ M 

.1 t iu 
Ad *i ■* 


fasUvt&z mov opr 
Tel: 1-40.1 3.02.Q2 A l-4l21.46.94 


rests ere. Seres 2-3. t, 

GREECE 


Fax: 1-45 08 S3 35 
Mtehfc 3615 ACCE55VOYAGE 
6 roe Herr* Lescot, 75001 Paris 
Metro - ■©: Chatelel Les HaBes 

0«- 1^S.I1T|_«— datea 


BCAAHD M0M9831B. 


I5LAND OF PATM05 awc.lable 
May 7 • June 15 Sept. I 14. avf from 
Sent. 28 - OcJ 31. Sesumvl I-cim, 
5 baiusift. A M bathroom, 9 w- 


^Ts^cpdenT Seuoed hgh m 
d XOBA with x^erdd po*- 


ACCBS IN LYONS 
Tel: (1 6) 78 63 67 77 
Booli now by phene wHh credit card 


WOWDWR*. Sfcod departure a the 
tent ever drscount: eeommy orfhne. 
Ctedt cods poede. Tek Pans (11 42 
89 10 B1 for » 5o 25 E 


NEAS CAL VI 

U/XUBOUi NEW HOUSE 
2 km non iea B persons mot. Spec 
|dO*tr view, twwej. swumnng pool 
tjrfusn* anenaes. Avoicde May la 
Sept. Owner Tel. Far [33| WdO 39 11 


crane news p»e wew of Manadvr 
ol St. Join. Featured * ArdMecturat 
°« ' SSSS 212 570-3831 

or aJ 212-570-3936 m New Ywt 


OeAMADC TUBtOF-THE-Cemar 

waterfront home on Lang fcJaxJ 
Sound m Comeorcut lor ercKnae 
with waertm home m ftyt ugaT 
Fr ance Ol rert far 512.500 per month. 
FlpUife data its* jumner. teurun i 
•weed Haase deeps 11. pool. t*xk 
45 nwwtei la NYC Teb 203-37-9790 
CAFE COO RBITJU^7 bedroom estate 
priwase Ocetxi berth. pwr ; beauffwl] 
c anwenerd. pnvaie Phorcn Awailotde 


June thru Sept. SlOJXQ'monrh Fo n, 
Ms. X ei US, (202) 429. 5553. 


FRENCH PROVINCES 


jgli't.. x 
?:;• \i‘“ Lt 

(■:».! s 


8QQXAS daly IMm: In. business. 
e«nam> of lowest fares. <*o DHfcy 
mod. Id ET Pans PI 47 tu 47 51 


nba CWfcy 


^OVBtCEOianxng Stan Home a 
ftoa Lubeon weeds. Menertes. 


2+ bedrooms, pad. 
Ming. Mod or 9.H30H/7 wreb JuL 


HOTELS 


Aug / 12Sff'J Jun* & 5rni 

TeL 215-2*8-3625 USA bv 5/M. 


CASA GIOTTO OF COETONA, 
Tosayy. Urwxm fordiouse. wibc 
oewDcter, trnuJ «nnn j«mrong 

F®* tnobdx Bra 

dwe Wfa. (39-575) atSK 

uyav sroyw farmhouse 

new. , double bdoom, twq'iSnn 
iflom. btdien. central heaMg, *0 
"•mAes Rcjitt or Smi A^Zebl* 
iter rtund. Td/rat (39.5^ 8544*21. 


Ml X ei USA, OWi 429 5553. 

Florida. Man Idand, 3 bedoom. 3 

bothjkaary home, sbegs 8. Pod-spa 
Tel 708-234-2206/ Fro; 7PM3M981 
LOVET 1780 FARM 5 hour Boston. 


“SUMMER 
IN FRANCE’ 


FRANCE 


*?.. P. 

rN 1 . P. 

Ik ‘i . I 
ft"-?!: I 

s ■ ■ 1 1 Si 

li-. 

'{'r Ii) ,f Vr 

118-lfS 

jl jUljjVr 
* 

t r? 


w» ®ff. PWORY IN PROVB4CE 
Penod furntwe. lage swanmng pool 


PARIS & SUBURBS 


VtUA TOSCA» - The mem smctteF 6 
dwrmng hotel n Pan*. 7 ioonr*. F380 
per rvgtir & fme remwtam wfh faLcn 
chefs. Menu F130or "a la asie'F20Q 
38 :ue cfei Vdoniaua, 75015 ten 
mtO- 1 } <3 06 82 92. fa IQ 5o 33 23 


skepsd/ft In teed mu JULY 
FFTSjXB/lorTnighr. AUGUST FF40000. 
h™ / 5eat. posbie. Write laen 8 
n» dr atmmnt. FjjjQg Gxpntera 
AJX-Of-PRpygfg, 5 rare centre, 
VILLA. oB Ctmfote fdm, swaniwia 
poo. big terroa?. sateitae TV, I hg 


SfKod Hearing /cr 
HoUuyBenmb 

appears ar 


JSffJiaPSflBSBg 1 


MNIFAINAS elegcrt house m 
piviJv A) 0 iq jr... PyrnsJ^d. fe- 

ted**, bw terraces, south. Surame- 
or mere F73C00rmo. Td 1-4327 1772 

UKEMBQUK GA8DB6. 3 ROOM 

equated fe. R 0.900: monh Ju!>, 
Augufl v Sqa. V {33-1} G 26 ^5 ft. 


Frid ay, May 20 & June 3 

Fix mftxiwMt, plmse camoa 

Paris Td (1) 46 37 93 85 
or Fox: (33-1) 46 37 93 70 


FRENCH RIVIERA 


HOTR AL RUSTAM East o* Se«w. 
5 she de Lib*, fe cepbond barton, 
secitey, condor i. tee owe, snven- 
nortv busmess se<wtej, seteBue TV 


16 mu Bender Fra* erpoct bee 
Fa.- f 1-112} *781391 ■ (33- rj *5033036 
temer Stergerteger tfeefc + UTHL 


tenter Stegerberger I 


PWWBKI/VAR - One hour Mae 
A»9oft, bnuy Via pool, (eras 
*3* “P. 14 <-°«act A**. 

&J™ctevat. Dcmane St Donat 
B3SID larows. T«L (33} 94 73 20 67 
Frsr-DawrjfltaB ■ 


HOLIDAYS & TRAVEL 


appvar.i every I'ridav 
F.,r it, tenia, .- .II I rv.l Knno'i i„ fun- lftJlTi.lv I 
.T., w npevne,!, 11 U^ir.r.1 Srrik.Hi 


gram at the flagship school in Paris, these 
classes for 7-to-14-year-olds are now in (heir 
second year of operation here. Given the 
popularity of these two-hour Saturday 
morning courses, school principal Lesley 
Gray is now considering setting up work- 
shops during the summer school holidays. 

With menus ranging from croquettes de 
saumon to saiade a la Grecque to pizza — 
which one student boasts turned out “better 
than Pizza Hut” — Gray claims to be sur- 
prised by the program’s success. “The chil- 
dren have become so keen,” she says, “they 
want to come back next term.” 

Divided by age into two groups, the youn- 
ger students bn this particular morning are led 
by teaching chef Claire Clark, who reports 
that most of the Irids in her group have signed 
up just to have fun. But. says Matthew Hardy, 
who leads the older group, not all the children 
arc there by choice: “We had one little boy 
who wanted to play football.” he reports, but 


after a few sessions, the boy did eventually 
warm to the idea of cooking. 

Yet others are here with a mission. Eleven- 


year-old Nick says be is on his 20lb cooking 
lesson because be plans to open his own 
restaurant, but be hasn’t yet decided whether 
to feature Italian or French cuisine. 


4 If you know how to do it it’s pretty 
easy,” he says, molding complex geometrical 
shapes out of dough. 

Meanwhile, some of the younger children 
in the group have made improvements on the 
fine art of patisserie. Asked whether they 
would like to make a drawing of the shapes 
(hey have learned this morning, the reply 
from one 8-year-old is lose: “No,” be says, 
“we*ll just make up our own." 

The classes, which run in either five- or 10- 
week sessions, are part of an effort to intro- 
duce children, in this age of fast food, to 
cooking. Gray describes another program, 
sponsored in part by Le Cordon Bleu, in 


which well known chefs vial local priman 
schools to talk about food. Gray seesaseed 
to catch children’s interest at a young age 
“Most arc from families where if conjo 
straight out of the freezer arid into the nfioD- 
wave," sbe says. ■ 

Things weren't always so bleak. Saareeri- 
ous era, children were taught to cootia 
school, but now, Gray report*, inattneesrf 
cookery classrooms being cmvrerted iito 
computer classrooms. It scans that, if d& 
dren want to learn to cook outside ibe hone, 
the lessons may have to come privately. : 

Before writing that £250 ($375) chcckia 
the hopes that year young one wul hop ad 
of bed on Sunday nKjramg to. prepares 
fancy breakfast, a word of wanting: tfefix 
art of washing up does not seem to he mdod- 
ed as part of the educational package. •_ 


Susan Keselenko Cod is afifalamewrito 
Bring in London. ' V 7 / 


in urn mu 










b i> ■ t; *cv?.*5:3r-»' 





'Backbeau " a musical creation myth that captures the Beatles on the verge of fame and fortune. 


Baclcbeat 

Directed by Iain Softley. 
Britain. 


At a time when there's much talk 
about a Beatles reunion, lain 
Softley *s vivid “Back bear cele- 
brates the union. A musical cre- 
ation myth, ii captures the Bea- 
tles on the verge of Beatletnania. 
a pre-Fab Five ready to devale 
from (he earnest assimilation of 
American rock, and rhythm and 
blues to the consummate artistry 
of their own original songs, none 
of which is heard in “Backbeat." 
That’s a brave commercial deci- 
sion, but an accurate reflection 
of a rime, roughly 1960 to ‘62. 


when the Beatles' repertoire was 
fueled by the adrenalin of youth, 
not the nostalgia of middle age. 
(a fact, this is not the band 
you've known for all these years, 
though John Lennon (Ian Hart) 
is dearly the center of the Sturm 
und Drang. While Paul McCart- 
ney (Gary Bakewdl) and George 
Ramson (Chris O’Neill) are pre- 
sent, Pete Best (Scot Williams) is 
the drummer — and all three are 
peripheral characters. The Bea- 
tles' birthing drama, begun in 
Uveipool and finalized in Ham- 
burg is raidwtfed by two crucial 
but little-known figures, Stu Sut- 
cliiTe( Stephen Dorffjand Astrid 
Kirchherr (Sheryl Lee). Sutcliffe 
was the Beatles' original bass 
player, brought into the band by 
his' art school pal Lennon. A 
totally inept bassist but a gifted 
painter. Sutcliffe died of a brain 
hemorrhage in 1962 and. until 
now, has been confined to foot- 
notes. Once the Beatles arrive at 
the notorious Reeperbahn strip, 
they are forced to gel their act 
together. All 18 (except for the 
17-year-old Harrison), these 
Beatles are undeveloped musi- 
cally and emotionally. Enter art- 


ist-sophisricate Klaus Voorman 
(Kai Wresinger) and bis girl- 
friend, Astrid Kirchherr, part of 
an artsy crowd. Voorman is 
fascinated by the Beatles' raw 
power, and Teddy Boy rough- 
ness. but Kirchherr sees some- 
thing more and gradually exerts 
a profound influence. Working 
with a rime period and two cru- 
cial characters probably not too 
familiar, Softley needs a great 
performance, and he gets it from 
Hart. Dorff. an American, is 
credible as Sutcliffe, a tenured 
soul uncomfortable in the lime- 
light, yet strong enough to walk 
away from it alL Of course, no 
one could have guessed what “it 
all" would soon mean, and one 
of (he few mistakes made bv 
Softley is crystal-balling what’s 


unspectacular.) The complica- 
tions multiply when Pablo's mu- 
sic-teacher father, who is audi- 
tioning students for pests in 
Spain’s national youth orches- 
tra, starts paying attention to his 
son's girlfriend. The film's most 
glaring errors are a chase scene 
at the end to prevent the girl 
from leaving town, and a brief 
lapse into old-style Spanish 
, comedy early in the film when 
i (he young protagonist supposed- 
ly opens his eyes for tie first 
time to curvy women, at a shop- 
ping maiL We see the usual B- 
raovie shots bat luckily the film 
gets back on track quickly. 

(At Goodman,' WT) 


school kids it portrays, the Bmh ' 

nonetheless seldom ^ 
never sentimental. Director Hr- 
oaki refuses to judge and con* 
quently reveals a high 

world as exhilarating and as sao 

as the real thing. 

(Dormd Ridde, 1HT ) , 


( Richard Harrington. IVP) 


Two Lap Runners 

Directed by Ryuichi Hiroaki. 
Japan. 


Alegre Ha Non 
Troppo 

Directed by Fernando 
Colomo, Spain. 

Poco a poco, Spanish comedies 
seem to be getting funnier and 
more clever while relying less on 
tired old routines and even 
coarse attempts at humor. “Ale- 
gre Ma Non Troppo" (Quick 
But Not Too Fast) Colomo di- 
rected and cowrote the latest ex- 
ample of this new breed of mov- 
ies that truly maln» you smile. 
Pablo (Fere Prince) is an aspiring 
French-horn player whose over- 
hearing mother is proud to have 
a gay son. But she’s not pleased 
when he gets interested in young 
women, particularly a fellow 
French horn player portrayed by 
Penelope Craz, (She also had a 
^e in "Belie Epoque.” Spain's 
recent Oscar-winning entiy for 
best foreign film. (Her pan is 
bigger in the new film, although 


Tire higfa-school picture is a pop- 
ular genre in Japan and the 
product is usually no smarter 

there than elsewhere. Here, how- 
ever. young director Hiroaki has 
made a film which intelligently 
rrflects some of the real anguish 
of this world of regimented ado- 
lescence. His 17-year-old hero 
had an affair with an upperclass- 
man. now dead. Brooding, he 
toms more and more toward the 
dead lover’s girlfriend. She 
knows what is happening and 
why and her feelings are just as 
nuxed as those of the boy. 
i bough the circumstances are 
special, the muted longing and 
the mutual fear revealed are uni- 
versal The camera views what is 
happening from for away, ribjec- 
twt, emotionless as it slowly 
Slafe the kids. lending their 
awkward grace a kind of gravity 
as it observes — cold, mcricu- 

i*SuS U, !“' die results of the 
needless need of youth. Self-con- 
scious. as mannered as the high 


Packs e Flgflo 

Directed by PasquaJe - 
Pozzessere. Italy. 

Pasquale Fceze ss ere's “P3dre * 
Figbo" (Father and Sou) B > 
tense, dramatic, and even brats! 
cinematic coofimislito p® 1 
a ted by the dash of two fog** 
patibte visions of life and amp- 
tion. Cwra(k)(MiciideB«^ 
is the night watchman at thepert 
of Genoa, who. was dkoaswd 
from fas factory job J**® 3 
union activity. Gabnefep^ 2110 
DtonisQ, Corrado’s soft b* 5 

cently returned fiom a 

the navy. Each is typicu of ®. 
generation, and the 
them is virtually. uribnflgcwT* 
Corrado, who is still a cffl ffgfr - 
led labor activist, finds v*®* 
a job in a factoiy. Bnt Gabtw® 
enrages his father by towng 
job after a week. AhhW» 
does not share Iris fathers voca- 
tion, Gabriele has few oonw£ 
tions or ideas of 
turns to Utievety, to sins* 
jobs, and dreams of leaving 
New Zealand or Austria 
transvestite he meets in a “£»- 
thfique. Shot in refcntoag® 
daustrophic realism, 

Fi g) i n* 1 is a trenchant porttstt**- 

tbe failure of the labor ® 0,e ’ 
menu and of the Mure to oy 1 
municate. In Gabriele, ' 
sere's rebel without a « asc, B S 
experience the rame rage 

muffling bewOdennentof 

eratioaborn without 

(Ken Shubnan, In * ' 




.rsir.rs, \ 


**« 

-*SS 

•• - 

* 

•• 

... .• K 


• V".~ 

-s «» 

* ’ * 


•r 


.■7SXM S 






ll — 

4 

4^ v " 


. • ■ 


IMS ’’riant 

-- 'l-M'.-jflLj!*, 


... 




• . - *• - v Tl'x> 

.*« Sr 

b f?s oc 
r^nr^. 


fe-: ■ 

mm ;2 


■ t- ”v 




L- :. 

1 5 -';- - 
- -- 




*.~wss 

" r ; Vjc* 

-■ •-Iff tS-JSf 


•V>ic 


«t*ly 

V«mcai' 




7 r -e wdSurat 
..■'"4 5-. : 


■■wi?.-: 

- T - 


- r -i r --. 

: ‘ I.** -J i^ci 






- ■ \ . 

.. .. 

•>-7'S'r‘. •’i.. ,T 

1‘V'iV'. -i 
'"'r, * r « c . 


*75 
- "» r 
- -*“■ -- vr 


rAPAK 

Jwto’ 


, To® 


• l I 


-h . - 

-Vs, "-Sfia-L 


U 




t ^ r, 


C-C Kv 


*■ - *v“ He.- 












International Herald Tribune 
Friday, May 13, 1994 
Page 9 


A? £ 


ISe,^, P* 1 ^es, the Meeting Is in the Mail 71 1 TTTJJTi 7JJ1 TTTTTl JIJu 

~~5TS — ... .... Z 

Boeri debris 


vcons ^ 

*j®s. Dive S^orn r* 

iStffce cpwal'cleai 

E pbire ol j- ’ ?K 

and gold'’,'? 6 - 
aiflOto 

Kkdr^'^ ■; 
sding ( ._ 

ewcocea^: 

fid». •. pi. v -- 
1 °° w ' ieeriv 

*W» Waikiki 
jwnMSr water sitiir.^ 


place u 2;t . . 

^Ipartyaa^iii-. 4 

fife* Scoal res^, ' i: 

fairish hhb-jh •• 


peiU&wt the fwc. r J*_ : 

Ni^iSpk I ihra.aX, f :-z 


B ffUiWr* . I though 

WMttKbeach- 

^-■zr- n T.- 




iftwfrfftrfT ns: \cal : - 
i~#o«dfnoii Gr__. .: 

Wg jgg” 5 “? ' 

njni. wbuxs 

CAB teeter* 

ttk’iftjvavi ? c^.. 

P»'"MR Lu.i.h; : . 
rfj$ <*#*'!«?. TL- ■_,-•■ 

RMRV;«!CJ Cv - 

S^M?ox4 <t:-. c 
ri# toe k>ix^- :• 

Kjowrw^? 

• :-: 

I ^WtSvj *i!- ■: 

s«aanb^^ : 


C»i,^ ■■ 


. . • 

*«* *."• ’••’ • 

■*.■>' v .\ .. 

■ ' * 

j£ *yb* : *r. ..- 



I 4*1 






"*****<• 




«***» 

Sfc' 






Eta 1 -** 1 ” 



. B y^oge r CoUis ' 

Herald Tnbwte 

^dajs 

earfuj of vouH get in 

‘‘Greensiif *X Io Phone version of 
“S of *Tbe low-fi rendcr- 

Symphony OrchesJ^rv 15 Muzak 
7 ford&: “He’s inT^ lhe do °ro-ladeD 
h™." Or the DoSnE^fc 1 030,1 thsiurb 
ence.’* Yes, w/SSRPy He “ “ confer- 
Of cw«c 3 Ki?JI oh ®? k 18 “ the mail, 
‘'meeting” yotJ mean bv 

■ e P t n^E£?~ «■*» 

J tueoings. it seems, whenev- 

‘JLJtof itii Trntltr 

Snan ^ rL? 1 ^ 11115 03X1 mean 

^S&iKSSHS 

«a cost-ef^utuerescfl OT ^ 

Exirayaganza. You may be passed from 

DtofST! 18 , “^hiiie to anoSer or else 
pamhed through to a mobile. Even if you do 

vrvfjJP t £^? c ? k 10 P®son and in real time, 
^*L lh ? W yon want is sitting 

^faass 

Colorado, 50 percent of business travelers 

HSir* Wayl ° M® 6 ^ of conference. 

If you take meetings into account, this figure 
approaches 100 percent — especially for top 
management. F 

During the recession, many companies 
find that instead of firing people it's more 
cost-eff ective to send them out on the con- 
ference circuit — a question of balancing 
travel costs against that of golden, or even 
pewter, hanrUhafr *** 

Moreover, companies are finding that 
they can cut overhead costs by allocating one 
office to several executives. There are special 
computer programs for this. Inventory con- 
trol software has been found useful in work- 
ing out the probability of any one executive 
needing the office on a given day. 

Mcetingmanship requires a strategic and 
tactical approach, depending on whether 
you’re talking conferences or meetings. Con- 
ferences differ from meetings, mainly be- 
cause they are occasions when you are talked 
at rather than talking amm^ if you follow. 
They come in several guises: from manage- 
ment development s eminar s new product 
launches ana sales meetin g s to association 
jamborees. (You even get conferences for 
conference organizers.) Conferences are a 
way of wasting everybody’s time away from 
the office and Form an integral part of “Man- 
agement by Absence”; while meetings are a 
great way of wasting other people’s time 
when in the office (“Management by Pre- 
emption”). Successful conferences and meet- 
ings are an end in themselves, rather than a 


m e ans to an end. “We are, therefore we 
meet,” Or vice versa. 

The conference year for the typical execu- 
tive might start in London with “Megatrends 
for Corporate Planners" at the Ritz. Then on 
10 Paris for “Meeting the Japanese Chal- 
lenge” at the CriDon, then down to Monaco 
for the perennially popular “Currency Fu- 
tures 1 * seminar at the Casino. Then perhaps 
to Florence for the “Cash-Flow Festival," 
and moving on to Davos. Switzerland, for 
wimer-sports talks in the snow with business 
leaders and politicians. Any remaining gaps 



Nwlar Awa/IHT 

can easily be filled at one of the nonstop 
seminars at the Management Center Europe 
in Brussels. 

There are man y motives for attending a 
conference; escapism, selling, buying, looking 
for a client, ko^nng an eye on a cheni, looking 
for a job, looking for somebody (0 fill ajob. 
plain honest-to-goodness self-aggrandize- 
ment. After all, the theme of a conference is 
simply a convenient and plausible matrix to 
act out persona] needs and fantasies. 

They are also a good excuse for holding 
impromptu board meetings in the absence of 
a fellow director who wasn’t able to make it 
to the conference, poor guy. 

This is an egregious example of the “invisi- 
ble agenda” (somewhat similar to the “invisi- 
ble organization” within the company) where- 
by executives are able to meet and conspire in 
those invigorating after-hours sessions far 
from the daily pressures of the office. 

Meanwhile, Wk in the office, there are 
many variations to this gambit. You have 
“shadow meetings” (meetings within meet- 
ings) when a caucus, or a breakaway group, 
has its own meeting and subverts the official 
one (“Management by Destabilization”). A 
related gambit is to invite as many people as 
you can who have no interest whatsoever, 
nor any conceivable contribution to make, 
while excluding people yon don’t want, ei- 
ther by calling the meeting in their absence 
or simply forgetting to circulate their copy of 
the a genda 

The same goes for minutes. Minutes are 
best written before the meeting and circulat- 
ed to a select few. They reflect what you have 
decided, rather than what the participants 


said. In a refined form, this involves distrib- 
uting “minutes" 10 folks who thought they’d 
simply been chatting in your office, or while 
traveling. You can formalize any land of 
discussion by calling it a meeting. (“Come in, 
Howard, we're having a meeting.” Or. “You 
remember that meeting we had on the flight 
from Paris the other day?”) 

Keeping Lhe initiative is the essence of 
meetingmamhjp. You need to consider 
where you're going to meet. f“The venue is 
Lhe message,” as Marshall McLuhan might 
have said.) The approach might be casual: 
“Your office or mine?" Or, “I've managed to 

get the boardroom.” Or more authoritative: 
“I’ve derided we ought to join the others in 
Gcveland.” You also need to decide whether 
to turn up early — which may involve chang- 
ing the ume at the last moment (“I thought 
we'd Stan early. Howard; I'll fill you in 
later.’’) or late” (“Sorry I'm late, Howard, 
would you quickly recap?”) Or not at all. 

Which lactic you use will depend on who 
is in the chair. Some meetings are leaderless 
when they start — a chairman emerging by 
dint of rank or strength of personality. A 
useful role is that of “shadow chairman,” 
speaking, as it were, from the back benches. 
This is often done as a prelude to a meeting 
within a meeting. But perhaps the ultimate 
ploy is 10 chair a meeting consisting of your 
boss and other heavy hitters. Do this through 
a “planned crisis,” for which, of course, you 
provide a miraculous solution. 

You may also need to decide whether to 
make your presentation on slides, an over- 
head projector or on a flip-chan (this works 
well for brainstorming, when you control the 
meeting by selectively writing down what 
people say) or with your new laptop with 
split-screen color graphics. 

Whether you decide to take notes — or osten- 
tatiously not to take notes — may depend on the 
kind of “statement” you want to ™ic<e A similar 
effect can be achieved at an international confer- 
ence by using or not using the earphones for 
simultaneous translation. Or you might want to 
plug in your Walkman. 

You must consider too whether to hand out 
copies of your presentation before, during, or 
after the meeting or conference, and to whom. 
Tactics may dictate whether you adjourn for 
lunch, work right through, or send out for 
sandwiches. 


(23] a • 

y?» 


Carrier/Hotel 
AIR CANADA 


AIR INDIA 


AIR LANKA 
AIR NAMIBIA 


AIR UK 


ALL NIPPON AIRWAYS 


Location 

SeouWancouver 


London to India 


London to Dubai 

London to South Africa/Namibia 


London to Germany/Denmark 


ALL NIPPON AIRWAYS Europe to Tokyo 


CATHAY PACIFIC 


HYATT 


Hong Kong 


NORTHWEST AIRLINES Britain to United States 


NORTHWEST AIRLINES United Slates to Asia 


L UNCH meetings arc still popular 
in countries like Britain and 
France. But you have sometimes to 
be careful not to appear too lavish. 
Any hint of hedonism these days is likely to 
invoke the combined wrath of Mammon and 
the shareholders. 

The ultimate conference style is to tele- 
conference from a yacht cruising in the Ca- 
ribbean. But telephone meetings have a 
unique sense of urgency and putative fulfill- 
ment, especially from an overseas subsid- 
iary. (The number one rule for business trav- 
elers is never to do business in the country 
you are visiting, but always be on the phone 
to somewhere else.) You don’t have to buy 
lunch. And you can always get somebody to 
say you are in a meeting or a conference. 


SABENA 


Nice to Brussels 


SINGAPORE AIRLINES London to Singapore 


London to Portugal 


THAI AIRWAYS 


VIRGIN ATLANTIC 


Worldwide 


London to San Francisco 


Aeroplan members earn triple mileage with business-dass and full- 
fare economy tickets and double points with dscounted economy 
tickets. Until June 30. 

Two-for-one for full-fare first- and business-dass passengers to 
Delhi and Bombay and for onward connections on domestic flights. 

Two-for-one in business class when you pay full fare. Until June 30. 

Half-price partner ticket when flying business class to 
Johannesburg, Cape Town and Windhoek. 

Passengers paying fuR fare on a round-trip from Stansted aiiport to 
Dusseldorf, Munich, Frankfurt or Copenhagen can claim a free 
Pentax PC-100 35mm camera. Until June 30. 

Members of Program A frequent-flier program can now earn free tic- 
kets on any of ANA’s 78 domestic routes or for accommodation at 
28 ANA hotels throughout Japan — in addition to free international 
tickets and upgrades. 

ANA Card Europe members making a round-trip in business class 
from Europe to T okyo earn 40,000 mileage points — plus an econo- 
my Europe-Tokyo round-trip ticket or a "positive upgrade coupon" 
to business class. Until July 31 . 

Passengers who are not Marco Polo Club members now have 
access to new business-dass lounge at Kai Tak, when boarding 
for flights longer than 2 hours from Hong Kong. 

Hyatt La Manga Club Resort in Murcia and the Hotel Wla Magna in 
Madrid offer a Discover Spain package. Three nights at the Vida 
Magna in a double room including Continental breakfast dinner, 
plus one night at La Manga Club Resort, costs 42,850 pesetas 
($310) per person. 

Two-for-one tor business-dass futf-faie round-trip to Boston. Until 
May 31. Automatic upgrade (subject to availability) for full-fare 
business- and econorny-dass passengers to nearly 200 destina- 
tions in North America. Until further notice. 

WoridPerks members earn 9,400 bonus points for round-trip travel 
on certain trans-Pacific flights. Until July 15. 

Promotional round-trip fare of 1 ,290 French francs. Until June 15. 

First- and business-dass passengers taking SIA’s 12:30 flight from 
Heathrow can claim a night’s free accommodation at Raffles Hotel. 
Until June 30. 

Half-price partner ticket when you buy round-trip in business class. 
Same deal during specific periods on lowest economy fare. Until 
Oct 31. 

Royal Orchid Plus members flying first or business dass on inter- 
national sectors can earn up to 150 percent bonus miles. Until 
Sept 30. 

Romd-trip tore of £299 ($445) for outbound travel between May 17 
and June 30. Inbouid travel must be completed by July 17 and in- 
dude a Saturday night stay. 


Athajf/i tfi» IHT cawtuty checks ihw otf&s. plaesa be toiwvamBd that some travel agents may bo unemarw at torn, or unable to book thetft. 


Tii UTS WISE 


BELGIUM 

Brussels 

Muses d'Art Modems* let (2) 513- 
9630. dosed Mondays. Continu- 
ing /To June 12: "Hommage a Henry 
Evenepoel 1872-1899." 200 paint- 
ings. pastels, drawings and water ooT- 
ors representing sped scenes, land- 
scapes and portraits. 

BRIT AIM 

Oxford 

Ashmolean Museum, te ,: _(S65) 
278010. dosed Mondays. To Aug. 
14: "Arthur Evans: Life and Times- 
Commemorates me centenaryol tfw 
archaefodst's first visit to Crete, and 
socialand intel^-' 

tod dirnd^ f^aae; TJSSSnS 

features photographs documwnng 

me Knossos axca^to^andr^; 

rations, as well as tetters and sneicn- 

es. 

FRAMCE . 

National Fernand LSger, id- 

fesss 

sasffssLy— ■* 


compositions by Jan Oibbets and 
sculptures by Mark Wanders. 


BA IB®™*, youngpainters 
nfluences ths* p-^vptssarro, Ma- 


5T* Djff. SeTSSSS 

France et la 
er I Eioile du Notu^ p^ngs. 


Cologne 

•Koini aches Stadtmuseum, tel: 
(221) 221-23-52. dosed Mondays. 
To June 19: "Rote Kapefle: Bn Por- 
trait der Wfoemtandsgnjppe in Pho- 
tographten Und SelDstzeugnissen." 
More than 300 photographs and doc- 
uments on the anti-Nazi Red Orches- 
tra group, gMng a new view of war- 
time Germany. 

Museum Ludwig, tel: (221) 221-23- 
79, closed Mondays. Continu- 
Ing/To July 10: "Der Unbekannte 
MocSgSanL- Die Sammfung Pari Alex- 
andra." Features more than 400 

MocSgllEml between 1907 and 1914^ 

Dfl w Mwf 

Heflens-Museum, teL (211) 899- 
4200, dosed Mondays. To Aug. 28: 
"Picasso, Mlro, Tapias: Keramische 
Werke.^ " Features ceramics by Picas- 
so and Miro. who were- both influ- 
enced by MecBterraneari pottery. A 
generation later, the Catalan painter 
T spies also used ceramic work to 
experiment with color. 

Munich 

Munich Biennale, tel: (89) 48098- 
614. To May 22: international festival 
for new music. Seven contemporary 
composers from Great Britain, me 
Netherlands. Italy. Russia, the United 
States, Argentina. Austria, and Ger- 
many have been commissioned by 
the city of Munich, for the Biennste 
(estival. 

Wuppertal 

Von der Heydt-Museum, tel: (202) 
563-6231 ■ dosed Mondays. To June 


designers such as Hanae Mori and 
Kenzo Takada. 

Nagoya 

Nagoya City Art Museum, tel: (52) 
212-0001, dosed Mondays. To June 
1 2: "Claude Monet” Focuses on the 
favorite themes o» the French Impres- 
sionist master, with 80 paintings de- 
pleting haystacks and poplar-lined 
roads, among others- 
Tokyo 

Tokyo Metropolitan Art Museum, 
tel: (3) 3823-4029, dosed Mondays. 
To June 1 2: “New York: A Magnet for 
Artists." The exhibition surveys 150 
years of painting in New York, ex- 
plores the evolution of American art 
and illustrates the shift In subject and 
style from landscape and figuration in 
' the 1 9th century to abstraction in the 
20th century. 


A m ster da m 

Van Gogh Museum, tel: (20) 570- 
5200, open daily. Continuing/To 
May 29: "Pierre Puvis de cna- 
vannes." More than 150 portraits, 
stWHfos, landscapes and drawings by 
the French painter (1824-1898). 
Rotterdam 

The Museum of Ethnology, tel: 
(10) 41-11-055. closed Mondays. 
To Feb. 26: "Venda: Contemporary 
Art From South Africa." The Venda, 
originally a South African farming 
people, five in the northern part of the 
TransvaaL Dreams, myths and con- 


temporary history are the sources ot 
inspiration for the Venda artists and 
the exhibits include large painted 
wooden sculptures of human beings, 
animals and fantasy figures. 

NORWAY 

Bergen 

42d Bergen International Festival, 
tel: 47- (5) 216-100. May 25 to June 
6: Opera and ballet performances in- 
clude Dario Fo'S production of Rossi 
ni's ■'Barbiere di StagHa." and or- 
chestral and choral concerts. 

PORTUGAL 

Lisbon 

Mtiseu Nac tonal do Teatro, tel: 757- 
25-47. open daily To Sept. 30: "The 
Classics m Lisbon." Displays the his- 
tory of staging classics In Lisbon, 
Plays Dy Moliere. Shakespeare, 
Sophocles. Gil Vicente and others, 
are reviewed in their successive ver- 
sions. 

SPAIN "" 

Barcelona 

FundaciO La Caixa. lei: (931 404- 
6073. closed Mondays. To July 10. 
'TakJS." A retrospective of the works 
ot GreeK-bom artist Takis, one of the 
main representatives of kinetic art, 
who uses the movement of air and 
the forces ol magnetism and electric- 
ity to give Me to his sculptures. 


SWITZERLAND 

Martigny 

Fondation Pierre Gian add a, tel: 
(26) 22-39-78, open daily. Contin- 
uing/To June 1 2: “Dessins at Aqua- 
relles das Collections Suisses et du 
Musee Rodin." Features a lesser- 
known aspecl of the French sculp- 
tor’s work, with 66 drawings, sketch- 
es. prints and watercolors. 
Rlgglsberg 

Abegg Foundation, tel: (31 ) 809- 
12-0 1. open daily. To Nov. 1: 
"Splendeur du Baroque: Soie. Or et 
Argent.” Features 43 textile pieces 
dating from the 17lh and early 18th 
centuries, offset by furniture, silver- 
ware and porcelain objects of the 
sane period. 


UNITED STATES 

Chicago 

Art Institute, tel: (312) 443-3600. 
open daiiy. To July 10: "I Tell My 
Heart: The Art of Horace Pippin.” 
Features more than 90 of the African- 
American artist's paintings, drawings 
and burnt-wood panels, which em- 
brace the cultural history of African 
Americans m intimate interiors, por- 
traits, landscapes, war scenes and 
bibBcal and historical themes. 

Houston 

Museum ot Fine Arts, iel: (713) 
639-7300, open daily. To July 24: 
"Classical Taste in America. 1800- 
1840." Features more than 250 items 


- in architecture, sculpture, decora- 
tive products as well as literature, 
music and painting - demonstrating 
how America was captivated by tee 
classical ideas of Greece and Rome. 
The Menil Collection, tel: (713) 
525-9400, closed Mondays and 
Tuesdays. To July 31 : “African Zion: 
The Sacred Art of Ethiopia." The 
Christian an of Ethiopia is traced 
through Illuminated manuscripts, 
icons and metalwork in silver and 
bronze created between the 13th to 
the 18th century tor the resya! court 
and monasteries. 

Loo An go la s 

Dorothy Chandler Pavilion, tel: . A 
new production of Strauss's "Der Fto- 
senkavaiier," conducted by Jiri Kout, 
with Frederica von Stade, Sumi Jo 
and Helmut Berger-Tuna. Six perfor- 
mances between May 29 and June 
12 

Museum of Contemporary Art, tel: 
(213) 626-6222. closed Mondays. 
To June 19: ’Traveling." A few of the 
provocative, minimal works of the 


Cu ben-bom pointer, Felix Gonzates- 
Torres who uses various media. In- 
cluding sculpture, photography, 
works on paper. His major bodies of 
work are stacks of printed sheets ol 
paper, fields of wrapped candies, 
strings ol white lights. 

New York 

Metropolitan Museum, tel; (212) 
570-3951 , dosed Mondays. To July 
24: "American Impression Ism and 
Realism: The Painting of Modem Life, 
1885-1915." illuminates the similar- 
ities as wed as tee differences among 
tee painters and paintings of the two 
groups and focuses on tee themes 
explored by each movement: The 
country, tee city and tee home. The 
exhibition Includes works by John 
Singer Sargent, Mary Cassatt, ChfJde 
Hassam. John Sloan and George 
Bellows. Also: to Sapl. 5: "Willem de 
Kooning: Paintings." To honor the 
90th birthday of tee artist, 76 paint- 
ings will be on view mapping his ca- 
reer from the 1930s to tee mid- 
1980s. 


Pasadena 

Norton Simon Museum, tel: (818) 
449-6840. open Thursday through 
Sunday. To July 31 : "A Tale of Three 
Muses: Music. Poetry and Art in India 
and Nepal." How music and poetry 
manifested itself In the visual arts of 
Lncfta and Nepal. 

San Francisco 

Museum of Modern Art tel: (415) 
252-4000, dosed Mondays: To June 
17: "In the Spirit of Flux us." The 
FHjxus art movement has been called 
‘The most radical and experimental 
art movement of the ‘60s." On show 
is work from such artists as George 
Brecht, Geoff ery Hendricks. Malan 
Knizak, Larry Miller and Yoto Ono. 
Washington 

National Museum of American Art. 
tel: (202) 357-2247. open daily. To 
August 29: "North American Wikf- 
f towers: watercolors Dy Mary Vaux 
Walcott." 50 watercolors by the 
American naturalist, explorer and art- 
1st. and photographer Mary Vaux I 
Walcott (1860-1940). I 


1993." 90 paintings by tee German 
neo-Expf essiomstic artist, whose dis- 
tinguishing feature is the representa- 
tion of double eyes. 


e arfnbiects and arcniwo- 
cultural ex- 
<*esgny^ I $ C e and Swe- 
b ^ e T the i8ih century. 

»Sfa 5S33 

sd in con{ !^^,dation, 

F88, pour la 


Rate the world's best restaurants 
with Patricia Wells. 


Welcome 


WITH A SMILE! 


ITALY 

VmIcs 

ZiteUe Cultural Center, tot (41) 

nos- 1 : 


The IHT's restaurant critic has set out 


cwenoeian^- ^He de 

47- 2 ^l£ Jdyl7: 


m- De van , an 

ae - L X^ indudinfl 

3 ^iJTSSts. 

^ ,[ XI Concep q{ con- 
ree flerwg^^uding 
^fSTAKkerman. 


BrS' rt te-BSSSor uin gth 

£fand horses, tfsptetfed in re-aeat- 
ed settings of their decowry, along 
Jrithnumerous ott»r finds, and 
scenes from Me m Crurat 

JAPAN __ 

SSJal Museum of ModemArt, 
JlwTEO 76M1 1 1. dosed Mondays; 
tv* fiMlft "japonisme in Fashion. 

Japanese Influence on 

Western fashions thr0U ®^^2J 
J^isjumes, dresses and dress- 
Ec^rwns. The exhibition also tea- 
HraTTiJ™ by contemporary 


TnjjTL-LLU 


^SereaHwy- 

tfdesSWJU; 

sl ,Epoq «£ 

, tour Jap°^ 
Costumes and 


" Musoo d’Arte Content- 

2S&JSK* 


poranw* — -a- 

„ 17- ’Three Masters of the 

22- "Fairy-tale Motifs in 
PJ^Art Ground 1900.- Kinsky 
p3£k Prague. 




She will be rating, in month-to-month 
articles, the top restaurants horn region to 
region, and comparing them to one another. 

. \ Whether it's the best in dim sum, 
delicious but secret sushi bars or the finest of 
French tables, she will guide readers with 
articles about inexpensive restaurants as well 
as the erand ones in the world's major cities. 

She wifi also share her tips on how to select 

S ty restaurants in unfamiliar territory. 

Don ’t miss this series. 

COMING MAY 16 th 

SWITZERLAND 


Patricia Wells is the author of The Food 
j^^Lovers Guide to Pons, now in its 

third edition. 


1 ^7 destinations 1 1 countries . . continents 

JL § in and D : 


Genuine care for your safety and comfort. 
Delicious dishes , delectable cuisine to touch the heart of 
the most discerning passenger. 

• 

Welcome to a whole new world ! 

A world of smiles and friendliness. 


Biman Bangladesh Aatunes 









Page 10 


INTER NATION W. HERALD TRIBUNE. FRIDAY. MAY 13. 1994 


Pa 


lev 




12 V 
High 




8‘i 4^#, 

Bl| H.I' 


g: 
0: 
fe i'i 



EL 

, h.;: 

t ; N 

a * £ :. 
$'iV\ 

SS *v -j 
)• * i”- 1 
,?••: 
*r. u - . i 




li*i 


: r : 

liMi IJ ; | 


Shg* 


Si! 


• « 

iK - 


i 1 '. i 

« : S. 




■n nJ •■. 
1SJ I vi' I 

3-': 


a 


■5’ 1 * 
«• is-: 
ft. « 


s. 

w • v- 

*•> IF 1 - 




• 

«sy! J5 . 
S : : 


Si'i; 


ABC INVESTMENT ft SERVICES CO tB.C.) 
MenomoOrfinsWO 2S86F* 533043 T1 5J22J5 

mAOC Futures Fund Lid * 12M* 

mABCIStanHePundlE.CJ.-5 I2«3 

mABC Global Rscewary Ffl-J 104.15 

ABH AMRO BANKi PjO. Bos 2BL Amsterdam 

w Cohimbfa Securities FI 144. It 

w Trots Europe fund FI FI 9658 

w Trans Eurooe Fund 3 i SUM 

416 FUND MANAGEMENT LM 

0 AIG Amor. Eft. Trust S 

to AIG Balanced Wbrld Fd S 

d AIG Emerg MMs Bd Ftf s 

vy aig Eurecu Fund Pic Ecu 


w AIG Eure Strati Go Fd Pte J 

"AIG Europe Fd PIC S 

w AIG Japan Fund- 


tfAIO Japan Small Cos Fa s 

IT AIG Latin America Fd Pte J 
ir AIG Mltteurmcv Bd Fd PfeS 

"Aiosauiti East Asia Fd s 

0 HWi UK Fund Ecu 


0 UBZ EuroGollmlwr Fund. Ecu 

ti UBZ Ltautfty Funds S 

C UBZ Liquidity Fund DM DM 

0 liaz Lkjufdlty Fund Ecu Ecu 

tf UBZ Ltaitfdirv Fund SF SF 

ALFRED BERG 
tf Alfred Berg Harden __ J 
Allred Da? Stan 
0 Far East. 


362966 
1042145 
106385* 
126X07 
1544020 
127.41 S3 

1SJ7 
1262W* 
1O3J073 
241.4827 
9X7 
1244 
1112517 
1766541 
T2S5KJ 
12 1588# 


w Amariauedu Had- 


wSwFEst Asiaiim. 
wGtataal. 


issue 

15*229 

3*953 


BUCHANAN FUND LIMITED 
c% Bank o» Bermuda Lid: 18B9J 295*000 

t Gtotal Hedgt USD * 

t Gtotal Hedge GBP 1 

t European &AitcmtIc_ S 1-b 

t Podtlc ) Mg 

f Emerging Markets— J 


CAUSE CE NTRALB DE5 BANBUES POP. 

rf Frudlki* -Obi. F» * FF B4«& 

0 Fraetllwr - CM. Euro 8— —Ecu 
w Fructfta* - Aatao Fses C-FF 
0 Fnictlhw - Action! Ev« D -££* 
d FrucIHuK - Court Term* E-FF 

d Fructlhi* - O Mart F DM 

CALLANDER . 

wCeiiaiKfcr Enter. Growth _S 
* coriander F-Asset S 


1 1520.98 
9370.12 

J802jg 

15(027 

1077BJ 


i. Callander FAusIrton . 

iv Callander F-Soanish- Pio 

ir Callander F -US Health Carts 

iv C divider Swiss Growth SF 

CAMPBELL (BERMUDA] LTD 
wGUd Institutional (1 Apr) S 


13071 

141.74 

1431.97 

91*100 

tua 

152.93 


CANADIAN INTERNATIONAL GROUP 


94501 


197 JP 


0 Germany. 


d Gfetal. 


0 North America. 
rfSwth 
d U.K.. 


I49AJ 
34571 
14*74 
11957 JO 
23544 
114J1 
ICAO 
77 UO 


ALPHA FUND MANAGEMENT, LTD 
41 Par-La-Vlil* Rd. Hamlltea HMH Bennuda 


ivAlota Ash Hedee (Mmr D4|S 

m Alpha Europe Fd (Mar 311 Jcu 
m Alpha Futures Fd (Mar 311 5 
at Alpha GIM Prnlrw Apr 30 s 
at Alpha Gtatat Fd (Mar Hl_> 
ffiAtoha Hedee Fd [mot an — s 
m Aloha Jgai Sort (Aor XU 
mAMn Lotto Amer (Mor Jl)« 
m Akita PedHC Ftf [Apr3i)_5 
m Alpha SAM. 


1X.95 

241.14 

31427 

9374 

99U& 

45441 

28U1 

314A4 


m Alpha Short FdlMcr3t) — 5 
m Aloha SW-T Fhr lr*7 Mar 31 S 
m Atota Tnidait Fd (Apr xi ^ 
m Alpha Warmlnatc n (AorXIS 
m BudhAtoha EurHdg Mar Jl Ecu 
mOtabatvest Valin lAprX) _S 

tv Hetsrt Japan Fund V 


127.74 

4951 

109.9 

173.19 

112S4 


d Cl Canadtan Growth Ftf Cs 

d ci Norm American Fd CS 

d Cl Pad he Hind . CS 

d Cl GtoWt Fund Cl 


d Cl EmentlWartets Fd. 
d Cl Euroman Fund. 


*29 

77* 

IAA7 

9J4 


d Canada Guar. Mortooo* Fd cs 
CAPITAL INTERNATIONAL 
w Capital Inn Fi wi - s 


5.90 

114* 


wCwhd lianaSA. 


CDC INTERNATIONAL 

"CEP Court Terme 

wGFI Lana Terme. 


131.17 

4420 


.FF 174091.1* 


aNDAM BRAZIL FUND 
0 Clndam Equity Fund. 


.FF 151720840 


tf Clndam Balanced Fund — S 
CITIBANK (LUXEMBOURG! SJL 
POD 1373unwmtaura Tefc4779S7t 
d Clllnvesl Gtotal Band— S 

d Cltlnvesl FOP USD S 

d C It Invest FGP ECU Ecu 

d Clrtnval Selector 1 


1Z1J9B3 

10BJUI7 


a atJcu (reticles USD. 

d CIHcurrenctos DEM DM 

tf Cttl currencies GBP C 

d C It (currencies — Y 


m H e m i sp he r e Neutrat Mar 31» 

mLat Invest Value (MorJU i 

mNictiAwM Aurelia {Aarxi-S 
mPocM RtMOanBVV Mov»5 
at Rlngaen rnn Fund (Apt XII 

raSaue Inrt Fd (Apr X) S 

m Safin urn Fd Itol] S 

ARRAL ASSOCIATES LTD 
m Anal American Quant Fd_S 

wArnd Aslan Fund S 

w Arnol Inti Hedge Fund I 

BAIL 12 Place Vendem7Sim Parts 
mlittermn rt et Fund. 


13*40 

11049 

I05X 

11075 

17254 


d Clttoarl NA Equtly_ S 

a ClHporr Cant. Euro Equity -Ecu 
d cttlaart UK Equity t 

d CHIport French Equity FF 

1 tf Clttoort German Eouffy DM 

. tf CHtnart Japan Eaultv— — Y 

0 crtipart iapec s 


iota 76 I d CHtoert eamcc 
100L59 I 0 Clttoort KA. J Bond 


1340 

35771 

71374 


d Cltl part Euro Bend 

0 Managed Currency Fund. 
CITIBANK (PAKISI SJL 

w Cltl 9* Can Gtd 

CITITRUST 


99J7 

123170 

127427 

137231 

I42L75 

14200 

14212 

I23HQ0 

22754 

1X25 

14521 

147354 

9*31 

asm 

21533 

177.97 

15453 

ISAM 

14434 


ADVERTISEMENT 


S^TERNATBON^IL FUNDS 


May 11, 1994 


fcjofcrtfem Nvpfad By tunds Med. Net aesat value qoelatfeno ton wppfietf bj tho Finds Mad with Hi# esception of soom qootM based an Ism priaae. ___ 

Tfea mxginjl eymtals hvflcot* frequency at quotations suppfiad: (d] - ddtr, («) ■ whUj^ [b] • bmonlMf; {Q fartnigMIy (every two yreofci); (rj ■ rngiariyj ft} ■ twte* weekiy; (mj- montb^. 


wASln Equity Fd. 


12540 

12057 


w eurooeem Eajlty Fd s 

EVEREST CAPITAL (8091 3922200 

m Everest Certlnl inti Lid S 13944 

FIDELITY INTT INV. SERVICES (Ln) 


0 DUtawrr Fund. 
l< For Easl Fund. 


a Fto-Amer. Assets. 


0 Fid. Am«r. Valun 1 v_ 
d Frontier Fund. 


0 G total Ind Fund. 


0 Gtotal Selection Fund. 
0 intemot lona l Fund 


d Hm Earooe Fund . 
0 Orient Fu 


tf Special Growth Fund. 
0 World Fund. 


2035 
B130 
1*651 
11234520 
3472 
1*27 
21.97 
7020 
137B 
13032 
4122 
11521 


FIHMANAGSMENT SA-LNaeHMUSRtl) 


wDella Premium ( 

FOKUS BANK A3, 477 <2* 555 
w Scantands inti Grawtn Fd_S 
FUND MARKETING GROUP (BID1 
PjO. bos 2001. Htvnimm. Bermuda 

mFMG Gtotal (31 Mori i 

m FMG N. Amer. (31 Marl S 

mFMG Europe (31 Marl s 

mFMG EMG MKT 01 Mar) -5 
m FMG a (31 Marl„ % 


>30520 


FX CONCEPTS (BERMUDA) LTD 

w Cancepfs Ferra Fund- * 

GAIA CURRENCY FUNDS 
n> Gala Hedge II. 


1427 

ia*j 

11.12 

1113 

«27 


wMonalnvei Futures- 


HEPTAGON FUND NV (S999-4ISS55) 
t Hegtooon QLB Fund S 


137749 


mtteetasan CMO Fund 
HERMES ASSET MANAGEMENT LTD 
Bermuda : ado, U»: (357)40 U 41 

Final Prices 

m Hermes e drawn Fund Ecu 

m Hermes Nerth American FdS 

m Hermes Askm Fund .— s 

inHermesEmeraM*nFunu ■ 
in Hermes Stroteyios Fund— J 

m Hermes Neutral Fund 1 

m Hermes Gtotal Fund 3 

rfi Hermes Bond Fund ■ Ecu 


7231 
70 60 


mHermes Sterling Fd . 
m Hermes Gold Fund. 


_c 


ML 

29233 

JI9JJ 

131 10 
71052 
11325 
45J.C 
1 1HJJa 
10&D1 
43041 


920 


iv Goto Hedge 111. 


wGcKt Swiss Franc Ftf. 

■VGAIAF*. 


9822.91 


w US S Equities. 


-FF 


t interwftt Canwrt BJ*. 

f intereHl inti Bds S 

r IM er p tn out Convertibles^ 
Intetmcrket Mifttl currency Fund 

ntOassA FF 

01 Clan B c 

m Clone Y 


5SL49 

2770.14 

510.9* 

645.99 


WUSS Money Marlesi. 

w USS Bonds 

wCHItand. 


234020 

22851 

renjnn 


m Cfflporformonce Pttl SJL- 

. iv The Good Earth Fund 

COMOEST (H-1) 44 7* 7J IB 

wComaeslAsto- 

■vCamaestEu 


25123412 
15.9499* 
1*22709 
1409.71222 
15.10114 
1 135271 


m Goto Guaranteed CJ. I - 
m Gala Gu or c m eea Cl. u 
CART MORE INDOSUEZ FUNDS IB/K/94 
Tel : (391 44 54 24 4X1 
Fax: (352)445423 
BOND PORTFOLIOS 

d OEM Bond — — Dls540 OM 

0 Dhrertond DIs 274 SF 

0 Dollar BORO Oh 230 S 

d European Bd DIs 1.19. Ecu 


12976 

1331 

489} 

KUO* 

8427 

8191 


tf French Franc DIs HUB ff 

0 Global Sana — CUi 2.15 s 

EQUITY PORTFOLIOS 
0 ASEAN. 


A4S 

3.18 

239 

130 

1107 

222 


0 AstoPOCtftC- 


0 Conilnenlal Europe— 
d Oeveloeina Markers. 
0 France . .. 


.Ecu 


d inwmctloTOi. 
d Japan. 


0 Nertn America. 
0 Switzerland- 


-SF 


d United Kingdom 

RESERVE FUNDS 

d OEM Ob 5398 DM 

0 Dollar DiiZlNS— S 

0 French Franc FF 


831 

432 

129 

338 

IIJW 

524 

237 

27220 

232 

334 

135 


INCOME PARTNERS (ASIA! LIMITED 
M Aston Fixed income ca * 10JZ7 

INTERINVEST (BERMUDA) LTD 
C/O Bank rf Bermuda. Tel : BO* TOtoQQ 
ttlHMoe Hao 8 Conserve Fd_5 
INTERNATIONAL ASSETS FUND 
Z, Bd Ravai L-2449 Lueembaurg 
m Europe Sud E —Ecu 


•N 


96.98 


INTERNATIONAL MGMT INCOME FUND 

0 Amerique du Nerd S 100.4$ 

d Evrooe Coniinentale OM ldaji 

d Enrcme Orient Angiosa, on *S 1X21 

a France FF 501J9 

0 Katie Lit 10134100 

0 Zone Asmliaue ,Y 1 007020 


INVESCO I NTT. LTD, FOB 271. Jener 
Tel: 44 534 >31 1J 

0 Maximum Income Fund c 

d Starling Mngd Pill i 

d Pioneer Martels 


a Qkasan Global Strolegv- 
0 Aola Super Growth . 


0 Nippon War rani Fund. 
0 Asm Tiger warrant. 


0 European Warronl Fund. 
0 Gtd N.W. 1*94. 


PREMIER SELECT FUNDS 
0 American Grown. 


0.9800 ■ 
2.1810 ■ 
17400 
177. DO 
237700 
2.4200 
4^200 
17330 
*380 


d American Emerorise 5 

0 AsM TWer Growth 5 

0 Dollar Reserve 3 

0 European Growth S 


a European Enterprise. 


0 Gtotal Emerging Mgrtceis-S 

a Gtotal Growth — s 

d Nlaaan Enterprise. ■> 

O Nippon Growth. S 


tf UK Growth. 


0 sterling Reserve . 


42400 

9.1400 
IIJOOO 
57600 
S44X 
*3200 
SaSOO 
STtoO 
607DO 

5.1400 
4 rwn 


0 CMSS B-l 
C Class B 


DEUTSCHE MARK PORTFOLIO 
tf Cdtworv * DM 


*45 

924 


0 Cat nor » B. 


-OM 


1112 

1151 


EUROPEAN BONO PORTFOLIO (DM) 

tf OetsA-1 s 1*2* 

tf Class A-Z 5 1SA4 

a Class B-l » 1A5* 

o Class B-J— — . — 5 15.74 


EUROPEAN BOND PORTFOLIO (USS) 


0 Class A-l. 
0 Class A-2. 
d LicssB-i, 


DM 


0 Clais B-?.- 


POUND STERLING PORTFOLIO 

0 Cnteeorv A E 

d Cmcs 


934 

1038 

9*4 

1031 


US DOLLAR PORTFOLIO 
0 ‘iiiegorv A. 


15*5 

1540 


tf Cot wort S- 


YEN PORTFOLIO 

0 Coieflprv A 

d Colewv B- 


1333 

119* 


MULTI CURRENCY BOND PTFL 

0 Class A — 5 

0 Class B. 


1706 

1774 


US FEDERAL SECURITIES PTFL 

0 Class A — — - * 

tf Class B— . ■ 5 


2178 

JT.44 


0 RG Europe Fund- 


_FI 


a pg PBcme Funa 

0 RG Otvtrenir Fund — 

0 RG Mgnev Plus F FL FI 

0 RG Money Pius FS 8 

tf RG Money Phis F DM DM 

d RG Money Plus F 5F — SF 
Mare Robert *e* Amstwtfom Siodt# 
ROTHSCHILD (GROUP EDMOND DCJ 
IN-HOUSE FUNDS 
» Aston Capital Hotfnqs FdJS 
w DtHwo LCF Rothschild Bd— 5 
w Datwo LCF RsthseTi Eq — S 

w Farce Cosh Trodmw CHF-SF 
wLeJcam 


13800 

14(30 

5190 

11338 

1033S 

11137 

10671 


w Leveraged Cod HaKBrai- 
wObH-t 


m Prl Challenge Swiss Fd. 
O Prtoaultv fb-Eutow. 


JF 


-SF 

-Ecu 


b Prteauttv FtPHehedcu JF 

6 Pricquth Fd-Lolto Am S 

0 Prlbond Fund Ear F eu 


b Prlbond Fund USD- 


MERRILL LYNCH 
EOUITY / CONVERTIBLE 5ERIE5 
BASIC VALUE PORTFOLIO 

0 Class A J 

d Class B . 


7.1* 

9*8 


CONVERTIBLE SECURITIES PTFL 

d Class A S 

0 Class B. 


GLOBAL ALLOCATION PTFL (USJ1 

d Class A i 

0 Gas fl. 


1422 

11*3 


GLOBAL EQUITY PORTFOLIO 

d Class A S 

d Class B. 


1038 

1032 


EURO EOUITY PORTFOLIO 
0 Class A . 

0 Class B . 


10.(3 

458 


LATIN AMERICA PORTFOLIO 

d Gass* 5 

d Class B. 


1447 

11*7 


14.13 

1335 


WORLD NATUPAL RESOURCES PTFL 

d Class A JS USB 

0 Class B S 11.10 


BANK BRUSSELS LAMBERT (SMI 547 2D7 


d BBL Invest America. 
0 BBL Imrast fleiOlum. 


0 BBL Invest Far East. 
d BBL invest Asia. 


JF 


0 BBL invast Ldfln Amer. 
0 BBL Invest UK. 


d BBL Renta Fd Inff- 
d Patri monial. 


_LF 


-LF 


0 Renta Cash SAtodium BEF BF 
d Renta Cash S-MedlumDEMDM 
0 Renta Cash S-Mvdlum USDS 

d BBL (U InvGotomfna 5 

d BBL (LI invest Earape LF 

0 BBL (U ltw EunHmrng LF 

0 BBL (LI hiveN World lF 

BANQUE BELGE ASSET MGMT FUND 
Share Distributor Guernsey 0481 72*414 


40X37 

1370120 

373*120 

59673 

49044 

34*31 

183120 

2043320 

1209(820 

3*11.77 

517527 

12580 

14*9020 

1090220 

370120 


CONCEPT FUNDH 
0 WAM Gtotal HedasHI 
b wam Inti Bd Hedge Fd 
CONCERTO LIMITED ■ 
iv NAV 15 April 1994HN 


1219.15 

12(534 


1034.11 

9*000 


CO WEN AS5ET MANAGEMENT 

Cawen Enterprise Fund N.V. 

w Clais ASM S 

w Class B Shs S 


9529 


CREDIT AGRICOLE 
INDEXI5 

0 Indaxb USAJSGP 500 

0 Inaexls jaaan/NlkkBi 

0 Inderds G Bret/FTSE 

0 indexls FranuCAC 40. 

0 (ndsxtsCT— 

MONAXIS 


13393* 

14*254 


-FF 

.FF 


1734 

178X23 

1114 

153.93 

nsj7 


0 Court Terme USD. 


w Inti Equity Fund (Slcov)_ 

m Inn Band Fund ISfcnv] % 

w Dollar Zone Bd Fd (Sleav) J 
w Starting Equity Fd <StC0Y]-£ 

w Starling Bd Fd I Sleav) t 

w Asto Pacific Heaton Fd —^s 
BANQUE INDOSUEZ 

IV Tito Dragon FimdSfeav S 

mJapcn GW Fd A (29/W774U 
m Am Gtd Fd B (29AM/44)_s 
m Dual Futures Fd a A units S 
mOuai Futures Fd a C Untts3 
m Maxima Fut. Fd 5er. 1 a AS 
m Maxima Fut. Fd Ser. I CL BS 
m MaMma Fut. Fd Ser. 3 CL C S 
m Maxima Fut. Fd Ser. 2 a. D* 
mlndouez Cure. G A Units— 3 
m todasuez Cure, a B Units— 3 
wlPNA-3. 


1234 

1157 

1134 

1243 

1453 

nun 


d Court Terms DEM DM 

0 Court Terme JPY y 

0 Court Terme GBP . 


0 Court Terms frf. 
0 Court Terme ESP- 
d Court Terme ECU. 
MO SAPS 


.ECU 


1434 

3171 

227029 

1125 

137J1 

294139 

1933 


8433 

170.10 

70B37 

129J9 

1174* 

130.134 

117X0 

104343 


0 Actions Infl DWerel flees— FF 
0 Actions NariFAmerfcalnes J 
0 Actions Japona I sea- 


0 Adlans Angtabes i 

0 Actions A Urmcndes DM 

0 Actions Frmm lw _F C 

0 Actions ESA 8 Port Pte 

0 Art Inm Urtlnim I H 


tf ISA Aston Growth Fund —3 

d ISA Japan Rea. Growth Fd-Y 

tf ISA Pacific Gold Fund— 3 

d ISA Aston Income Fund. I 

d Indasuez Korea Fund I 

wShanahal Fund— _S 


iv Himalayan Fund- 

■vManllo Fund. 


wMatocca Funa. 
wSMm Fond. 


tf Indasuez Hang Kong Fund-5 

tf Oriental Venture Trust 5 

0 North American Trust S 

0 5<noaa8iHatovTnHt t 

0 Pacific Trait hks 


105118 

110877 

43S2D 

7135 

95220 

1735 

11.13 

1220 

1033 

Till 

27.97 

1793 

5144 

4580D 

61.9 


0 Actions Bassln Poctftoue- 

0 Obi la im'l DtvcrsmoBs FF 

0 Oblto Nord-AinericuJnss—J 
d OMto . 


12940 

2289 

190834 

>4.14 

4118 

14928 

341024 

3973127 

3434 

12137 


0 Yin Reserve. 


*346 

1158 

1171 

3869 


GEFINOR FUNDS 
London : 071-4994171. Geneva : 41-223SS5X 

wScnttlsti Wortd Fund I 453*709 

w State St. American S 348.97 


GEHE5CE FUND Ltd 
w ( A l Geresee Eagle— 
i v IB) Genesee Short. 


m (C) Genesee Oaportunlty S 

w (Fi Genesee Non-Eoultv 3 

GEO LOGOS 

Wlisirntahi Band B Ecu 

iv It Pacific BondB SF 


13534 

7133 

1S2J* 

138.73 


GLOBAL ASSET MANAGEMENT 
OFFSHORE FUNDS 
11 Athol SUtouatas.1 of Man 4443*424017 


10*1.16 

143535 


0 North American Warren! _s 

0 Greater China Dobs 3 

ITALFORTUNE INTI- FUNDS 
w Ctoss A ( Aggr. Growth iiaUS 

w Class B (Global Faulty) s 

w Class C (Gtotal Bond) s 

iv Class D (Ecu Bond) Ecu 


43100 

6.9800 


8581 120 
1228 
11.11 
'0.98 


JARDINE FLEMING. GPO Bax 11*91 He K* 


DRAGON PORTFOLIO 

0 Class A 

d Class B. 


1544 

1122 


MERRILL LYNCH INC i PORTFOLIO 

« dim * s B35 

0 Class 8 s 1*5 

0 Class C S U» 


b Prlbond FdHY Enter Mtds3 
w Selective Invest 5A ... -1 

0 Source. 


m U5 Btad Plus. 
•vVartaplus- 


-Ecu 


ROTHSCHILD (GROUP EDMOND DC) 
OTHER FUNDS 
0 A*ia/jBaan Emery. Growths 

w Esarll Eur Partn Inv TU Ecu 

m Eurap Strateg InvestRi Id —Ecu 
b integral Futures ■ 1 


5772 

1014.11 

1(0431 

1BS121 

258*23 

5*33 

98829 

114*41 

1I7JS6 

110.152 

uun 

12175* 

IW.9X 

115359 

334395 

11X940 

944704 

W9547 


o Oattoest Gtoool Fd General DM 
b Oattoest Gtotal Fix income DM 
0 PocHK Nles Fund 5 


w Prr mal DrokJcar Grth NV— s 
I SatocHan Horizon FF 


b Vlctolre Artane. 


17.18(18 
WT7J9 
1 05370 
180*42 
171492 
(71490 
8.18 
277437 
8113135 
498839 


0 JF ASEAN Trust 


tf JF For East Wrol Tr.. 
tf JF Gtotal Conv.Tr. 


0 JF Hung Kong Trust. 
0 Jr Jouon Sm. Co Tr.. 
d JF Japan Trust. 


d JF Malaysia Trust, 
o JF Podtlc Inc. rr.. 
0 JFT/icltandTn»I- 


JOHN GOVETT MANT (1AM.I LTD 
Tel: 44324 -43 9*70 
w Gavest Man. Futures . 


5237 

2"2t 

161* 

1637 

5259220 

1786920 

243* 

1112 

3189 


wGAMerl 
w GAM Arhttroge 
W GAM ASEAN 


w GAM Austral l. 
wGAM Boston 



mGAM-Corglll Minnetonka— 3 
w gam Combined dm 


wGAM CrossMarttef. 
w GAM L . .. 
w GAM France. 


w GAM Franc-val. 

tv GAM &AA4CO. 

nr GAM High Yield. 


0 ObUa Analotoes- 




tf OMtaAltomixetos. 
0 Oblto Franentsea- 


0 Obtlo Eso. A Port. 


0 Oblto Convert. Intern.. 

0 Court Terme Ecu 

0 Court Tonne USD. 


-Pfa 


0 Court Term# FRF. 


7351 

1141 

3*34 

M934 

2417.16 

14932 

2187 

173) 

14144 


CREDIT COMMERCIAL DE FRANCE 
0 Elysoes morwldre FF 8972U8 


0 Sam Adkatfi USD S. 
CREDIT SUISSE 
tf CSF Bonds. 


tf Teaman Fond. 


0 Japan Fund. 


w Managed Trust. 


0 Gartmoro Jam Warrant— S 
iv Indasuez High YM Bd Fd A3 
w indasuez High YM Bd Ftf B3 

h Uowl CH-J 


J7200 

33495 

6.175 

17.985 

342H 

U0 

9QJ71 

9247 


0 Band Vator Swf _ 


0 Band VOtor US -Dollar. 

0 Band VMor D-Mark 

0 Band Valor Yen. 


0 Band Valor (Starling, 
tf Convert Volar Swf. 


b Maxi France. 


w Maxi France 95_ 


.FF 


JF 


525834 
521 804 


0 Convert VMr U5 - DoHar_J 

d Convert Valor ( Sterling { 

tf CSF Intnnxjttonol 5F 

0 Actions ScHsses SF 


w GAM East Asia inc. 
iv GAM Japan. 


w GAM Money MX Is US 
d DoSrrrltog- 


0 Do SwiSB Franc. 


0 Do Deutsche rntplL. 
0 Do Yen. 


J3M 


w GAM Allocated Mm-Fd s 

nr GAM Emerg Mkts Mrrt-Ftf J( 

IV GAM MltFEurape USS S 

nr GAM MIH-Europe DM DM 

nrGAMMIlFGtotal USS S 

•GAM Market Neutral s 

w GAM Trading DM OM 

w GAM Trading USS 5 


tv GAM Overseas. 


w gam Pacific. 


w GAM Selection . 


WGAM Singapore/ Malaysia— 5 
w GAM SF Spedat Band —SF 

wGAM Tycho 5 

wGAM Ui- 5 


w GAM ui investments. 
wGAMVahx 


wGAM Whitethorn, 
w GAM WarltfwMe. 


wGAM Band USSOrd 

wGAM Band USS Soodal. 
wGAM Bond SF. 


wGAM Band Yen. 
wGAM Band DA 
wGAM Band I. 


w GAME Special Bond, 
w GAM Universal USS- 


.Y 

.DM 

-I 


BUm»CmmSwEAUD(EMBOURG 


0 Cram Is SmIHMM Cop SwitzlSF 
tf Europe Valor SF 


w GSAM Composite. 


45121 

3*4.77 

40734 

207.94 

J40J0 

10335 

13874 

10737 

9X44 

190875 

27235 

20638 

15613 

4*225 

87236 

10089 

10133 

10132 

101.92 

1002520 

14380 

14330 

13*37 

136*0 

17515 

11089 

12633 

164.97 

16147 

18673 

tma 

72141 

13148 

2014* 

03247 

1273* 

1*544 

*9132 

14X14 

1NLS 

101.94 

1440520 

11941 

15L«8 

13383 

14858 

3)522 


w Gtfvetl Man. Fur. USS. 
w Gave it * Goar. Cure. 


wGOvettSGIm BaLHtfgc. 
JULIUS BAER GROUP 

0 Boerbond. — — 

tf Cant 


1323 

924 

12.7B 

108118 


d Eauftmor America. 


JF 


0 Eaulbaer Europe. 

tf SF»- BAER 

d Slock bar. 
tf Swbsbar. 


tf Liauibae*. 

0 Europe Bond Fund, 
a Dollar Band Fund. 


0 Austro Bond Fund. 


0 Swiss Band Fund, 
tf DM Bond Fund 


tf Convert Bond Fund. 
tf Global Bona Fund— 

d Eura Stock Fund 

0 US Stack Fund. 


-DM 

-Ecu 


0 PQdtic Stock Fund. 


0 Swiss Stock Fund. 


0 Special Swiss Stack. 
0 Japan Slock Fund. 


0 German Stock FunOL 


0 Korean Slack Fund . 
0 Swiss Franc Cash. 

0 DM Cash Fund 

d ECU Cash Fu 


_Y 

-DM 


0 Sterling Cash Fund. 


0 Dollar Cash Fund- 


tf French Franc Cash- J=F 

KEY ASSET MANAGEMENT INC 
roKev Global Hedge. 


94123 

187X42 

2X1.97 

170735 

1111.73 

24*694 

293(44 

225520 

14920 

12*30 

12*120 

121.10 

11*30 

9720 

91.40 

1J7J0 

12730 

12130 

16020 

14130 

V7B020 

10*40 

9140 

1X120 

125*00 

127420 

'09920 

1040,00 

111120 


mKrv Hedge Fund Inc. 


25*30 


XI PACIFIC ASSET MANAGEMENT INC 


0 Eurowc ECU B (Cool 
0 I nfetre c USD A IDIvl 
0 I nto See usq B (tail 
Cf 


.Ecu 


tf intoflxnt frf B (Cap) ff 

0 For East USD A IDIvl % 

tf For East USD B [Cant 1 

tf Japan JPY a (rxvi v 

0 Japan JPY B (Cap)— Y 

0 Partec FRF B (Cop) FF 

tf Latin America USD A (DIvlS 
tf Latin America USD BtCapIS 
tf North America U5D A (DhrlJ 




1424004 

14X090 

284393 

21J9J4 

15JS34 

194129 

2194394 

2228734 

1122837 

M5J709 

S3S 

H» 

1713441 

282097 

302097 

161193 

161191 


tf Eiwrgie- Volar. 
tf Paclflc- Volar- 
tf CS Goto Valor— 


tf CS Tiger Fund 


tf CS Ecu Bond A_ 


0 CS Ecu BondB 

0 CS Gulden Bond A 
0CS Gulden BondB 


.Ecu 


SWISS REGISTERED FUNDS 41-1-422 342* 

0 GAM (CH) Europe SF 

tf GAM (CH) Mondial SF 

0 GAM (CH) Padflc 5F 


IS3.10 

99.19 

1*538 

290.14 


-FI 


0 CS Htsaano Iberia Fd A pin 

tf C5 Mbpono Iberia Fd B Pto 

d C5 Prime Bond A DM 

tf CS Prime Band B DM 


IEC REGISTERED FUNDS 

w GAM North America 5 8J3? 

w GAMPodflc Basin — s 18*39 


tf CS Europa Bond A_ 


0 CS Europa Band B_ 


0 CS Fbeed l SF n, 1/9* SF 

0 CS Fixed l DM 8% ire* DM 

0 CS Reed I ECU 8 3/4% 1/94^01 

tf CS Swiss Franc Band A -SF 

0 CS Swiss Franc Bond B SF 

tf C5 Band Fd lire A/B Ul 

0 a Band Fd pesetas A/B_pfus 
0 CS Germany Fund A DM 


IRISH REGISTERED UCITS 
EartUorl Terruce.DubllnX 3S3-I-67606X 
w GAM Americana Acc— DM 88J0 

wGAM Europa Ac* DM 11XX 

WGAM orient Acc DM 157.15 

wGAM Tokyo Acc — DM 175.7D 

w GAM Tolol Bond DM Acc — DM 10780 

w GAM universal DM Acc— 3>M 17Z40 


wintotaandCM. 
w littebcc Cttf. 


EM SUI55E-GENEVA I 0 g Germany Fund B rum 


-SF 


wSwtostund Chf_ 


JF 


JF 


ALLIANCE -CREDIT BANK 
(412J) 344-1381, Gewiva 
w Pletade North Am Eautttos3 

:?iSSSS5 , SSSf!z3 

w Pintado ECU Bondi Ecu 

"■ Ptotata FF Bond) FF 

R Ptoto* Eure Coiw Band* -SF 

w Pletade Dollar Reserve s 

w Ptokxto ECU Reserve Ecu 

w Pletad e SF Reserve SF 

RPNtaMFF Reserve FF 

BARCLAYS JimniNP MANAGERS 
Hang Kong. Tel: (80) 04)980 

tf China (PRO | 

tf Hong Karo _s 

0 Imtoniwln _ « 

tf Japan j 

0 kwnn— « 


7720 

31334 

16674 


10845 

11787 

9878 

9389 

9734 

10690 

10623 

9385 

10049 

10X53 

18139 

10297 


tf Malaysia. 


7\i 4* il 

si IS*:' 

ii>. »‘.i 

| l:i 

|4*. 14't.l 

!?: j.v-l 

fe: ?? : : 


a Philippines. 
0 Singapore. 

tf Thai land _ 


tf South East Asia. 


8174 

30.930 

I1J7* 

10273 

13225 

34304 

272* 

17244 

31.990 

3224? 


0 CS Euro Blue Oita A DM 

tf CS Euro Blua Ota B -DM 

d Q Shari-T. Bend I A J 

tf C5 Shorf-T. Band S B S 

0 CS Swrt-T. Bond DM A DM 

0 CS Short- T. Band DM B_DM 

d CS Money Market FdS \ 

tf CS Money Martel Fd DAL— DM 

tf CS Money Market Fd c c 

tf CSAAoney Market Fd Yen-Y 

tf CS Money Market Fd cs a 

0 CS Money Martel Fd Eeu_Ea» 
0 CS Money Market Fd SF _JF 
tf g Money Market Fd HFI-Ff 

tfU Mancv Market FdUt Lit 

tf CS Money Market Fa PF FF 

tf CS Money Market Fd Pta_Ptas 
tf CS Money Market Fd BEF.BF 

• iSKSSSSzr^HS 


GLOBAL CAPITAL MANAGEMENT LTD 
awTtuidn:(809) 2954000 Fax:IB») 2954IU 
JWH GLOBAL STRATEGIES LTD 
W|C> Financial 8 MemlS—l—S 15224 

w (D1 Global DtveralfleiL— S lflBJl 

w(F)G7 Currency S B5» 

W (H) Yen Flnnru-tnt e TA9.I* 

R I J) Dlverslftod Ft* Adi S 119AI 

R Intt Currency & Bond -5 121 82 

•.JWH WORU3WIDE FND— S 1871 


GLOBAL FUTURES 8 OPTIONS SICAV 


mFFM Int Bd Praar-CHF Cl JF 
GOLDMAN SACHS 

wGS Adi Rate Mart. Fd II S 

mGS Global Currency S 

wGS Global Equity — . s 


97.14 


wGS World Band Fund 

w GSW crld income Fund S 

GOTTEX FUND MANAGEMENT 
wG. Swan Fund Ecu 


9.93 

124231 

11.9* 

1821 

94fl 


11*723 • 


d Ci North- American A 
tf CS Narth-Amertcwi 6 

0 CS UK Find A 

tf C5 UK Fund B 


GRANITE CAPITAL INTLGHOUP 

w Granite Capital Equity S 

w Granite Capital MM Neutrals 
w Granite Capital Mortgage —5 ... 

s "" elu,m ltd 


m Kl Asia Pacific Fd Ltd. 
KIDDER. PEABODY 
6 Chesapeake Fund Ltd. 
b III Fund Ltd. 


1124 


b Inll Guaranteed Fund, 
b Stane h enpe Ltd. 


349614 

111720 

130837 

1*54.14 


3693 

2272 

1721 

181343 

*.91 

9.1* 

361* 

1101 


•JS 

9J4 


LATIN AMERICAN SECURITIES 
Tel: London 071*31234 
0 Argentinian Invest Co StoavS 
0 Bnullldi Invest Co Sleav _S 
0 Colombian invest Co Sleav J 
0 Latin Amer E*rro vivid Fd 5 
0 Lathi America income Ca_s 
0 Larin American invest Co— S 
0 Mexican Invest Co 5taov — s 

tf Peruvian invest Co Slcov 5 

LEHMAN BROTHERS 

rf Aslan Dragon Pori NV A S 

0 Aslan Dragon Pori NV B S 

tf Global Advisors II NV A S 

tf Global Advisors II NV B S 

0 Global Advisors Port NV A J 
0 Global Advisers Port HV B J 

d Lehman Cur Adv. A/B- % 

d Premier Futures AavA/B_l 
LIPPO INVESTMENTS 

ypi» Tow Centre. 89 Oueensway.HK 
Tel (852) 8474*88 Fo. (852)59*0388 

w Java Fund 1 91 

wAsean Flsea incFd s ?3i 

w TDR Manny Martel Fd S 1ZJ4 

w USD Money Market Fd 5 18*0 

w Indonesian Growth Fd 3 1 8*9 

wAskxi Growtn Fund. 5 1053 

w Aslan Warrant Fund 5 694 


MERRILL LYNCH MEXICAN INC PORT 
0 Mevloan IncS Ptfl Cl A_J 938 

tf Mexican Inc S Ptfl a B 5 *38 

tf Mexican Inc Peso PHI Cl A3 69* 

if Mexican Inc P«so Pttl Cl B 3 694 

MOMENTUM ASSET MANAGEMENT 
w Momentum Navel 1 1 tr PerU 1003* 

,7i Mo men tarn Rainbow Fd s 122.1 3 

m Momentum R«R R.U S 

m Momentum Staoanusier I ISnJD 

MORVAL VONWILLER ASSET MGT Co 


•« Wilier Teieco 


V» Wllleriuntfs-WIUerbood Cap! 
w Wilier fundvWlliertiond Eur Ecu 
w WlUerfvntis-wUterea Eur —Ecu 
w Wil leriunds-wlllereQ I tatv -Ul 

w Winerfurete-Wlitorea NA 5 

MULTIMANAGER N.V. 
wCosti Fnhnnremenl . . S 

w Emerging Morteis Pd i 

*» Euratseai Growth Fd Ecu 

w Hedge Fund—— 5 


9.78 
>134 
1232 
104 
142B800 
1122 


w Japanese Fuixl. 
w Market I 


w World Band Fund. 


923 

2131 

15.05 

1295 

BO 

1033 

1X74 


NICHOLA5-APPLEGATE CAPITAL MGT 

w NA Flea Ibta Growth Fd $ 1 4082 

w na Hedge Fund i 122*5 


895 


NOMURA 1NTL (HONG KONG) LTD 
0 Nomura Jaioria Fund— 5 
NORIT CURRENCY FUND 

mNCFUSD 5 821.95 

mNCFDEM DM 896*9 

mNCFCHF 5F 924J9 

IBWCrPPP CP 4M02Q 

m NCF JPY Y 8349520 

/ntirFHFc gg 7X0X80 


0DEY ASSET MANAGEMENT LTD 
31 Gnuvenor SlJjOd WIX 9FEA4-7V499 2998 
0 Cdev FurrcMi. raw 1«?.73 

wOdey Europeta i 150.98 

wOdey Eutot Growth Inc DM W735 

w Ode> Eurap Growth Acc DM 14619 

wOdev Euro Grth Sier inc r 5925 

wQdey Euro Grth Sler Acc _£ 59 Jb 


OLYMPIA CAPITAL INTI. INC 
Williams House. Hamilton HMll. Bermuda 
Tel: 8D* 292-101 B Pax: 809 295 23» 
w Flnsborv Group I 


wOtvmpto Securlle 5F 

w Olympia Stars Emerg Mkts 5 

wWlneh. Eastern Dragon 5 

w winch. Frontier — _3 


w Winch. Fut. Olrmoio Star. 

w winch. Gi Sec inc PI (A) s 

w Winch. GI Sec Inc Pi (C) 5 

w winch. Hide Intr Madisan-Ecu 

w Winch. Hkto Inn Ser D Ecu 

w Winch. Htog Inrt 5er F ecu 

w Winch. Hide ON Star Hedge! 
w Winch. Reser. MulTL Gv Bd J 

w > WWiaiester Thailand S 

OPTIMA FUND MANAGEMENT 
73 Front St. HamlHonflermuda IB9 29S8458 
» Oolima E mere to Fd Lia s la 


21675 

169AS 

913JJ2 

1729 

2B4A5 

14690 

«2S 

934 

1474JB 

173675 

172X52 

101817 

1140 

3020 


w Oolima Fond. 


nun 


w optima Future* Fund— _J 

w Oolima Global Fund— S 

w Oolima Perlcuto Fd Ltd — S 
w Oolima Short Fund % 


ORBITEX GROUP OF FUNDS 

d Orbtiex Asia Pac Fd s 

0 Orb I lex Growth Fd« S 


17J7 

I73S 

1X49 

938 

735 


ROTHSCHILD ASSET MGMT (CJ) LTD 
mNemrod Leveraged Hid — 5 83TJ1 

SAFDIE GROUP/KEY ADVISORS LTD 
mKM DMoramed Inc Fd LtdJ 11314)4 
SAFRA REPUBLIC HOLDING 
w RecatuicGAM \ 

w Republic GAM America 5 

w Rep GAM Em Mlds Global 3 
w Rea GAM Em Mkts Lot Aral 
w Republic GAM Europe SF-SF 
w Republic GAM Eurone USSJ 
w Reeubllc GAM Grwth CHF JF 

w Reoubiic GAM Growth C t 

w Reoubdc QAM Growth US68 
w Republic GAM Oooorrunity 8 
w Republic GAM Pacific— J 
w Republic Gnsey Dot Inc — 3 
w Republic Gnsev Eur Inc — DM 

w Republic Lot Am Alloc 5 

w Republic Let Am Argent. _J 

w Republic Lai Am Brazil— 5 

w Republic Lot Am Mexico s 

w Republic Lot Am Vend- 5 

w Reo Salomon Slrat Fd Ltd J 
SANTANDER NEW WORLD INV. 
m CammerxSer Fund — —S 
m Explorer Fund j 


14137 
11339 
13632 
19659 
122.0 
10734 
10737 
101 JK) 
1565* 
11Q42 
14554 
1032 
1037 
9618' 

93-25 
1*4-71 ' 
10807' 
87 JO 
9X40 


SKANDINAVUKA ENSKILDA BANKER 
5-E-BANKEN FUND 

0 Eurooo Inc S 


188242 

107394 


0 Flarran Ostere Inc. 
0 Global inc. 


tf Lakamedrt inc. 


0 Varldan inc. 
tf Jaoaninc. 


0 Sverlgr Ine- 


rt Nordamerire inc. 

tf Teknotagl inc. 


tf Sverige Rometand in 
5KANDIFDND5 
0 Equity (ntn Acp 


120 

694 

121 

052 

127 

9934 

0.96 

1038 

692 

125 

1648 


tf Equity inn ine. 
0 Eaultv Global. 


tf Equity Not. 

0 Equity Japan 


0 Equity Nordic. 


0 Equity U.K.. 


0 Equity conttnentot Europe J 

0 Eaultv Mafitemmean 5 

0 Equity North America 3 

0 Eaultv Far r 


tf Inn Emerging Markets, 
tf Band inrt Acc 


a Bend inti Inc. 


0 Bend Euraae Acc. 


tf Bend Euraae Inc. 


0 Bond Sw e den Acc. 
0 Bona Sweden inc. 
0 Band DEM Acc. 

0 Bond DEM Inc. 


tf Band Dollar US Acc_ 


0 Band Dollar US Inc. 
tf Cut. US Dollar. 


tf Cure. 5 m- dHh Kronor 5*k 

SOCIETE OENERALE GROUP 
SOGELUX FUND (SF1 

wSF Bonds A UJA 5 

w SF Bands B Germany DM 


)8J7 

1331 

134 

134 
11137 

132 

138 

151 

US 

131 

433 

IJO 

1237 

730 

137 

057 

17.1* 

1679 

137 

(L9J 

137 

123 

135 
1239 


w SF Bands C Franc*, 
w SF Bonds E GJX. 


WSFBimrKF Jmmn V 

w SF Bends G Europe Ecu 

w 5F Bonds H Wortd Wide— 5 

wSF Bands JBetgtum -BF 

WSF Ea. K North America J 

wSF Ea. LW. Europe Ecu 


* SF Ea M Padflc Basin— Y 
to SF Ea. P Growth Countries 3 

wSF Ea.0 Goto Mines 5 

w SF Ea. R World wide _S 

wSF Short Term 5 Fran ce FF 

to 5F Short Term T Eur.. -Ecu 

SODITIC ASSET MANAGEMENT INC 


1524 
31 J* 
12447 
1120 
2392 
17J1 
16)9 
82220 
1452 
1675 
1514 
1728 
3138 
1548 
T767501 
16« 


1032 

183 

7JT 

*.a 


0 Orbrirx Health A Emrlr Fd j 
d OrottexjapmsmaUCapFds 

PACTU S'l’* 0 ’"™' Ra — a 

a Eternity Funa LW. J 

d tadnlty Fund na < 


57080 

72157 

55J62 

4.9778 

1*7214 


d Star High YWd Fd Ltd S 

PARIBAS-GROUP 

wLllxnr X 


mini 

381.752* 

1252559 


rf Parvesl USA B- 
tf Par-vest Jooan B 


LLOYD GEORGE MNGMT (853) 145*03 

to Anfermc Fund S 1»J4 

*» LG Aston Smaller Cos Fd— » 163902 

w LG Indio Fund Ltd 5 uje 


0 Porvest Asia Poc'l B_ 

tf Porvest Europe B 

tf Parvesl Holland B 

d Porvest France B. 


tf Parvesl Germany B_ 


LLOYDS BANK IMTL (BAHAMAS) LM 
Ltoydi Americas Par Wto (809) 33^711 
«r Batancud Moderate Risk FdS 933 

LOMBARD, ODIER A CIE - GROUP 
OBLIFLEX LTD (Cl) 
tf Mumcurrancv 


tf Porvest Dot l- Dollar B s 

0 Parvesl ObiV-DM B DM 

fl Parvesl Obil Yen B > 

tf Porvest Obi t-Guteen B Fl 

0 porvest ObiFFranc B ff 

0 Parvesl Obll-ster B ( 

0 Parvesl Ooll-Eoi B_— Ecu 


tf Dollar Medium Term. 

0 Do I tor Law Term _ 
tf Japanese Yen. 


tf Pound Sterling. 
0 Deutsche Mart, 
tf Dutch Florin. 


tf HY Eurocurrencies, 
tf Swiss Franc. 


0.9857 

893*9 

074493 


"S'Kosagir 0 "™^” 

IfSCHSEXustom Use DockADub. 4471*384000 
* ™P* JIM < 9J0 

to World Band ffb ff stjp 


tf g France Fund A. 
0 g France Fund B. 
0 C5 Furnrml 
0 g Italy Fund A. 
tf g Italy Fund 0. 


0 GTAseanFd A Shares, 
tf GT f 


0 WHeJtwriawlsFdA. 
0 C5 Netherlands Fd B_ 
0 CS FF Bond A 


0 CS FF Band 8. 


LTD 

w Australia 1 


0CSCOBlta!SFR3OOO_ 
0 g Canttol DM 2000- 
0 Cs Capitol OM 1997. 


to Jooan Techn ol ogy, 
w Japan Fund. 


to Japan New Generation, 
to Maldvtto 6 Singapore— 
to North Amertco 


to OctoPus Fund. 


to Padflc Fund. 


« International Bona . 
toEurttoO Fix vi 


■v Hang Kong. 


nr Trtsror Wurnont- 


w Global Emeralng Mkts. 
w Latin America. 


* currency Fund. 


to Currency Fund Managed —1 
w Korea Fund x 


to Baring Emerg Wortd Fd s 

BDD GROUP OF FUNDS 

w BDD It 5S Cash FUnd 1 

to BDD Ecu Cash Fund—. Ecu 

to BDD Swiss Franc Cash SF 

w BOD IM. Band Fund- UK S 

■v BOO int. Bend Fwd-Ecu—Eai 
■rBDON American Eaultv Fas 
» BDD European Equity FundEcu 

mBDO Aslan Equity Fund S 

m BDD US Small Cap Fund— S 
to Euroflnen d ere Fixed (nc_ FF 

to Eurofta MuttKv Bd Fd FF 

BEUNVCST MGMT («YJ LTD 
w BeRnvest-Brazti s 


2123 
7851 
2687 
24J» 
11X93 
T* W 

37.12 

10697 

162) 

1749 

9728 

3613 

1X7* 

tun 

1631 

5023 

9J9 


dCS Capital Ecu 2000. 
tf CS Capital FF 2000. 


-DM 


.Ecu 


FF 


0 CS Japan Megatrend SFR—5F 
0 g Jooan Megatrend Y«n_ y 
0 CS Port) Inc SFR Am FF 
0 CS Portf Bat SFR— SF 


tf g Parti Growth sfr sf 

0 g POrtf Inc DM A/B __ DM 
«. “ Port! Bel rvut ^ 


533629 

6105.10 

505118 

5B723 

693*21 

487693 

42S61] 

144658 

104448 

1077697 

937677 


tfCS Portf Growth DM DM 

0 CS Porti Inc USS A/0 S 

tf CS Portf Bat USS— — J 

0 g Portf Growth USS s 

a CS Port! UK (Lire) A/B Lit 

tf g Portf Bel (Lire) A/B Ut 

0 « Portf Gro (Lire) A/B Ut 

0 CS Eq Fd Emerg Mkh— S 

tf CS Eq Fd Small Cap USA— s 

S SI I q ? fT,0,, Eur dm 

?.SLl5_ F f L 0 * Amertrn % 

cumrroR fund 

0 Curst tar East Aston Ea s 

0 CjifSl ter GIM Gwth Sub-Fd J 
“**•« NENTSCH GROUP 
Tel tl-72 War 

2 22 Jf°1^.Mortuits Fund SF 

0 DH Monctorin Portfolio SF 

d Hentsch Treasury Ftf - x c 

0 Samurai ppmgliq - « e 


O'SpOUNT BANK GROUP 
i* Mwiiicurr. Band «e 


1089)20 

1003220 

1050420 

33870 


wOotvoi Bond 


w Beilnvnf-Gtooal- 
w BeJtaxcsfHsraei. 


wEurovol Equity. 


w Bel Invest-Mult (bond, 
w Bo Unvesl -Superior— 


BNP LUXEMBOURG 
INTER CASH 
> France Monekdre. 

I France Secnnte 
f Inter Cash 


100720 

9*603 


to N. Amertco Equity, 
w Pacific Eaultv. 


Ort I NVEST MENT FFM 

a uxiccnfru +. 


137327 

114024 

1351-22 

M1674 

120941 


0 inti Re nt en fond +■_ 


.DM 


J)M 


/ inter cash Eeu^ 
7 Inter Cash GBP . 


t Inter Cash USD. 


f Inter Cash Yen. 


INTER MULTI INVESTMENT 
w Privatisations Intt Invest— S 

w Titeoarn Invest - i 

INTER OPTIMUM 

» interttend USD S 

wBEF/LUF BF 


1477727 
176SL72 
2751 OS 
1919,15 
1479.58 
124254 
1*5857 


552S 

7859 


197613 

1001.17 


DU BIN & 5WIECA ASSET MANAGEMENT 
TM ! (809) 945 1(00 Fax : 1809) t«WI 
b Hlgnbrtdge CopMI Core — js 1203624 

m Overtook Pertpntionce Ftf J 2051,14 

mFtartflc RIM Op Pd J 106J7 p 

EBC FUND MANAGERS (Jersey) LTD 
1-3 Male St. St Heitor ; 05344*331 
EBC TRADED CURRENCY FUND LTD 

tf COPltol ( J3B44 

if income. S 1X141 


toMolftaevtiMDM 

w USD 

w FRF 

» ECU 


INTER STRATEGIC 
wAmfmllr . 


140110 

10*55720 

297421 

132609 

1533844 

122A54 


INTERNATIONAL INCOME FUNO 
tf Lone Term— — j 


* Europe du Nord- 


w Eureo* du Cent re.. _ ru x 
>• Eurow ou Sud__— — .Ecu 
I* Japan. v 


119744 

1201248 

12S4J5 

291424 

10B638 

118390 


tf Ld"0 Term -DMK- 

ERMITAGE LUX (aSMB3]S) 
to Ermitooe inter Rets 5trat_DM 
w Ermttnge Setz Fund . .1 

w Ermltape Aslan Hedge FdJ 
w Ermltage Eure Hedge Fd— OM 
toErnritoge CrasbvAato FdJ 
n> Ennltage Amer Hdg Fd S 

i» ErmlioBo Emer Mkts Fd I 

BUROPA FUNDS LIMITED 

tf American Eoufly Fund s 

tf Ainertcon Option Fund t 


AseanFdB Shares, 
tf GT Asia Fund A.' 

0 GT Asia Find B L. 

2 SI 5*?** S"’ 0 * 1 Con ta A 5H2 

2 51 ^W'ComP B Sh4 

0 GT Australia Fd A Shared 
2 51 ? us ? ro l )0 W J? ®wres— S 

0 GT Austr. Small Co A Sh S 

0 OTAujtr. small COB Sh S 

2 SI Jaoon Ptt a Sh s 

tf GT Berry Japan Fd B Sh s 

0 GT Bend Fd A Shnrex _ . A 

0GT Band Fdfl Shares S 

d GTBjo «Ap Sciences A ShJ 

2 £1 8 5hJS 

tf GT Dot lor Fund A Sh J 

0 GT Dollar Fund B Sh— * 

tf GTEmeretaDMkrsASh S 

0 GT Emqrgtaa Mkts B Sh 5 

2 GT Em Mkf Small CO A sh J 
tf GT Em Mkt Small Co 8 Sh J 
w GT Euro Small Co Fd A Sh J 
to GT Euro Small Co Ftf B Sh J 
2 21 5°”° Kon * Fa A Starts 
tf GT Hansnu PatWlnder a Sh* 
2. B 5hJ 

to GT Jap OTC Slack* Fd A SM 
toGT JooOTC Starts FtfBShS 
to GT Job Snxit) Co Ftf A Sh— 5 
to GT Jaosmoll Co Fd B Sh— J 
toGJ.Lmin America Ftf S 

0GT Strategic Bo Fa A Sh S 

0 GT Strategic BO Ftf B Sh f 

0 GT Tejecunvn. Fd A Shoras* 
? SI TMecom m. Fd B SharesS 
r GT Tertnotaav Fund a st>_s 
rGT Technology Fund B 5h _s 


75J0 

7*27 

2631 

2448 

1644 

1640 

3138 

3T-53 

2425 

3612 

19-22 

1929 

1UN 

1690 

3420 

34.19 

1922 

19.1* 

eji 

692 

4X59 

4224 

47X7 

*177 

1341 

1X51 

11*5 

1604 

1624 

1434 

19.9* 

654 

654 


tf US Dollar Shari Term— 
tf HY Euro Curr Divio Pay. 

0 Swiss Mulffcurrency 

tf Europeon Currency 

0 Belgian Franc. 

0 Convertible. 


JF 

-Ecu 

JF 


0 French Franc. 


0 Swiss Multi-Dividend SF 

0 Swiss Franc Short-Term SF 

0 Canadian Dollar — _CS 


m 41 


1639 

S32S 

5615 


0 Dutch FkwlnMullJ. 


tf Swiss Franc Dlvk) Pay. 
0 CAD Mutllau. Ohr. 


0 MedHerranean Curr. 
0 Con vert tbles. 


MALABAR CAP MGMT (Bermuda) LTD 


3X73 

2433 

1*45 

5maoo 

2638 

1720 

1147 

1434 

1339 

12.7B 

1)34 

1685 

2244 

IJ7J9 

1485 

15*30 

1024 

I04J 

1330 

13L71 

1073 

1228 

1122 

1821 


0 Porvest OblFBeKix B . 
tf Parvesl S-T Dollor 8_ 
d Porvest S-T Europe B. 

0 parvesl S-T DEM B 

0 Porvest S-T FRPB 


-LF 


0 Porvest 5-T Bel Plus B. 
d Porvest Global B- 


0 Parvesl Int BondB. 
tf Porvest ObU-LhroB. 


.BF 

-LF 

J 


0 Parvesl int Equities B_ 

a porvest ur B. 


-Ul 


tf porvest USDPhisB. 
tf Parvesl S-T CHFB. 


833 

2307 

575ZQD 

4742 

2439 

131.13 

1287.15 

43674 

177734 

1SV927 

16252600 

140631 

201472 

15171 

13224 

1717220 

12121 

13139 

5A5JB 

1119.17 

1050720 

776320 

71.16 

54545120 

107.74 

*225 


WSAM Brazil. 


> SAM Dtversinea. 
rSAM/McGarr Het 


Hedge. 

wSAMOeaortunKy 

wSAM strategy 




AM- 


Compastfe. 


5R GLOBAL FUND LTD 
!Eura» 


14672 

13235 

10693 

12XG 

11173 

IZ7.74 

33522 


0 Cioss B-2. 


1*38 


INCOME PORTFOLIO 


jCW*. 


oassB. 


THORNTON filANAOEMfiNT LTD 

d PadflnvtFdSAI I 

4 PKU taut Fd 5ADM— DM 

0 Eastern Crusader FurxJ— J 
d Thor, lbb Dnson «LW 

tf Thornton Ori«« inc FdLM* 

0 Thornton Tiger Fd Ltd 9 

tf Managed Selection S 

w Jakarta — — — ? 


080 

933 


toEjpir, Stela* WhEta-FtCi 

0 Eunice TW2, 


tf Korea. 


NEW TIGER SEL FUND 
tf Hong Kong— 


1339 

3671 

1101 

w.u 

2784 

5135 

2)31 

1281 

1532 


d Europe Ott^cBna] 
to F4.T. PwidFFjjS 
to FJKIP.-Pomfflia —— 

iBeasigm^S 

wFoirfeM stnfld 
mFotom 

m FVeWrd Oueraera L«] 
wRrefEdsilPOTdatt 
ir Ftrif Ecu LAM 




tf Thdfond. 


tf Malaysia. 

0 i 


tf USSLhwWlfy- 
0 Otlno- 


d Singapore. 


4M9 

11B 

6722 

1937 

2130 

774 

HL21 

VOS 

2239 


m First Frontier FoqdL—_j 
m Fim Inh Inyesfnwtfud— s 
tr FL Trust 




THORNTON TAIWAN FUND 

tf Equity income -J 

tf Equity Growth J 


tf LlauMtv. 


1X59 

1534 

1820 


to Fontax ) Money 
wFonhaJ EMitl 
w Pootin 3- loti Bond] 

wi riniHdH Vale i ii ■ 

toiorfr wbetocttaqj 

m rtHwro t«™arntfa 

mCfcYiOereraBori— WW 
mOEMGeneraBae LM « - 
m Gemini CavstM rj 

aOemsProeresstve Ftf LALjl 


UEBERSEBBANK ZarU 

tf B-Pond 
tf E- Fund 


-SP 


-SP 


0 J-Fund. 
tf 88- 


JF 


tf UBZ Eure-locame Fund — SF 

tf UBZ world inesmt Fund— Ecu 

0 UBZGaM Fund—— — : s 

tf UBZ Nippon Convert— _SF 


tf Asia Growtt) convert SFR JF 
tf Asia Growth CWkrert USX— S 

0 UBZ OM- Bond Fund DM 

tf UBZ D- Fund— DM 


tf UBZSwbsEauHv Fund SF 

d UBZ American Eq Fund — S 

tf UBZ 1- Bond Ftmd 9 

0 UBZ SouthRBt Alla M— * 
UNtONBANCJURE ASSET MGT (UBAM1 
INTBRNATIONAU NASSAU 
to Ard el Invest .. J 

iv Arm Invest. S 


122L40 
47494 
39673 
129235 
1883 
533! 
12X44 
133X03 
nnjt 
113223 
10389 
11622 
11288 
9661 
■ 95.91 
9934 


mGFMCOrototB FunO____j 
or G»Bl 9J FUBfl Ud XH-J 
efijabnlkrUliuui.M - c. . 
b Global CfloFd am i STvi r 

w Gtobat Futures MgnjtfiZj • 
roGtabol Monetary Fd Lttt-Zs 


wGanrad. 


tf QreenLkte FrteioB^HBP 

m G uara n tee d Cepflrt tayn »4 LF 

w HarbMper Latin Amcr_u ■ 
f HouMtT«nnHidgsN.V— j 
to MB investments Lfd __ 3 
m HemtSPhere Neitfrot Mar ITS 
tf Heritage CopGnmttFdUtt 

IwHesiteFoiM — * 


wlbex 

tf IDF Global—— 


wBocafin. 

■vBackinvi 


w Dtavest Asta X_ 


wDtnvest Inti Fix Inc Stmt — S 
w Joofnvest 5 


nr Lorre i ll i vest. 


toMansinv 


wMmirtn rosl C uml n a tatf. 

wAAourlnvesf Ecu 

arputar. 


to Pulsar Overtv. 
wOlxeRinvesf. 


w Qurerttnvest 73. 
w stall i Invest — 


wTuttnven. 

tourstavest- 


»«(OW EAM C ftiaB / >S5 Er r «W(UB^« 


244631 Z 
1851.181 
109236 Z 
MT931 x 
1113322 
112888 s 
104*1)0 z 
254X44 2 
185688 z 
91531 Z 
192137* 
940.13 Z 
134X81 X 
138535 Z 
347484 Z 
96USZ 

19133 Z 

190618 z 
177614 z ' 
229144 z 
139X20 z 
2956791 
110117* 
40X852 


to IFPC Joprei Fund 
b ILA-IGB 


PMHMiFin: 

at Japan Select Ian AM 
tr Japan Seiecttan Fund 
iv Kenmer GftL aeries 21 
w Kanmar G u arre ttem J 

w km g Marata 


mLau Pertermonce Fd, 
wLFlatenwRomN 


INTERNATUNALfLUXEMBOUl 
to UBAM S 


toUBAM DEM Bond. 


toUBAM FRF Bond- 


er UBAM Germany. 


to UBAM Global Beret. 
toUBAM Japan. 


Ito UBAM Sterling Band 

to UBAM Sth Padf 6 A#a . 
Ito UBAM US Equities -M 


X 

1 15253 z 

-DM 

11B9J7Z 

S 

95X78 z 

JF 

5*3677 z 

-DM 

720350 2 


URLfflz 


97)6001 

5 

95957 

A 

191X1 Z 

5 

1T75.I0 z 


m Lux Inti AM Fd Ltd. 
wUntfund 
ML] 


UNION BANK OF SHTTZERLANDAHT RAG 


tf BondJnvest. 
0 Brtt- Invest — 


4600 y 


0 COTXK- 


tf OMart-lnvesf- 
0 Dei tor -Invest. 


-DM 


0 EMroteJitvesf. 
tf Eseoc 


JF 


tf Franctt. 


tf Germac. 


tf Glob Invest. 


d GokHirrest. 


d Gulden- Invest. 
d Hetvetfnvest— 
tf Kalland-liwesi. 


JF 


tf Jepan-lnvest- 


tf Pacific- loves! . 
rfSafTI. 


JF 


tf SkareUnavieo- Invest. 
0 Start tog-lnvesl. 


JF 


d Swiss Franc-Invest - 
0 Sima. 


0 Swtssreol. 


JF 

JF 


147JJ0V 
765 0y 
13480 y 
2ia»y 
11644 y 
TZttjfly 
17650 V 
37130V 
315JOOV 
22X09 V 
27690 V 
li9J»y 
241 JBy 
27X50 V 
11080 V 
337J0V 
2OU0Y 

1 45.00 y 
4*300 y 
194JOOy 
27650V 
791.11 V 


w Panda Fund Pic 


er Pharma/Wlip c tth, 


JF 


23IJB 


0 ubs America Latina 

d UB5 America Leetna S 

tf ubs Asia New Hortrwt SF 

0 UBS Asia New Horizon S 

tf UBS Small C Evrooe SF 

tf UBS Small C Europe DM 

tf UBS Perttnv SFR Inc £F 

0 UBS Part Inv SFR Cot G— SF 

0 UBS Pori Inv Ecu lnc_ SF 

tf UBS Port imr Ecu Inc ecu 

d UBS Port Inv Ecu Cap G SF 

0 UBS Port Inv Ecu Cob G Ecu 

0 UBS Part Inv USS Inc 9 

0 UBS Part inv uss me SF 

0UB5 Port Inv USS cap G SF 

0 UBS Part Inv USS Coo G_S 

0 UBS Port Inv DM inc SF 

tf UBS Part Inv DM (tic DM 


0 UB5 Part Inv DM Coo G SF 

0 UBS Port Inv DM COP G DM 

d Yen- Invest- Y 


mSR Euroseon. 
mSR Aslan 


mSR InfemollDnol S 

SVENS KA HANDELS BAHKEN SJL 
146 Bd de la Perrusse. L-ZDO Luxembourg 


10682 

10640 

11087 


b SUB Band Fund. 


to Sverako Sel. Fd Amer Sh — 5 
» Svenska Set Fd Germany-* 
wSvensko Sri FdlnflBdShJ 

w Svenska Sel. Fd (nil Sh S 

w Suemka Sri. Fd jopot— Y 
w Svcruka Sri. Fd MltMAkt _Sefc 

ir Svenska Sri. Fd PacH Sh S 

i* Sverako SeL Fd Swed Bds-Jek 
wSvtosko SeL Fd Svlvla Sh^Eeu 
SWISS BANK CDRP. 

0 SBC ion inttax Fund 5F 

0 SBC Eaultv PtlFAusfralla— AS 


5613 

15lD1 

1188 

1X51 


391 

11674 

7JI 

1419J4 

142254 


0 SBC Eaultv PH FCnnada—.CS 
Eaultv Ptfl-Eur 


Fl 


tf Parvesl OUll-Cortoda B. 

d Porvest Obir-DKKB 

PERMAl GROUP 
/ Com modifies Ltd, 


-CS 

-DKK 


25X17 

1865! 

95193 


/ Drokkar Growth N.V S 

/ Emerging Mkts Hktas—S 

r EureMIr (Ecu I Ltd .Ecu 

( tmreshnenl HMgs N.V s 

1 Media 6 Comnninlcatlofa_s 
I Nascal Ltd S 


m Malabar tan Fund 


i*Jto 


-DM 


, _ _ BWrrtVHOTHh Fund_s 2L29 

0 G.T. DeutacMontf Fun d. % t 

5187 
7151 
2581 
Ul 
57 SO 
2611 


tf G.T. Europe Fund _ 
w G.T. Gicbai Small Co Fa . 

0 GT. Investment Fund 

■ AT. Korea Func 


£gt: urSmriKSf^ta?^ M , 

SgS — 1 


MAN INTERNATIONAL FUTURES 

m Mint Limited • Ordinary S 

mMInf Limited • Income— J 
mMlnt Gid Lid -Spec Issue— s 

01 Mini Gtd LW - Ngv JOB? 5 

mMnt Gtd LW - Dec 10*4 j 

mMlnt Gtd Lrd • Aug 19?} % 

mMtnl Gld Currencies— J 

mMlnt Gta Currencies 2DG1 J 

mMlnt So Res LW (BNPI S 

m Athene Gld Futures S 

m Athena Gtd Currencies i 

m Athena Gtd FinonciaK Incj 
m Atherxi Gtd Flranctals Coo A 

m AHL Capital Mkts Fd % 

mAHL Commodity Fund S 

mAHL Currency Fund S 

mAHL Real Time Trad Fd S 

mAHL Gtd Real Time Trd S 

mAHL GW COT Mark Ltd 5 

mtaao Guaranteed wo* Ltd— S 
mMdp Leveraged Recov. Ltd A 

mMAP Guaronteed ZCOO S 

m MM! G GL Fin 2D8J s 

MARITIME MANAGEMENT LTD 
73 Front St Hamilton Bermuda (809)297 rm 
w Maritime Mlt-Sectar i Lid J 9*750 

wMorlllmeGIbt Brio Senes _s 82150 

wMorttlm* Gnu Delta Series 3 reTji 

w Maritime GtBI Tou Series— S niu 

MATTHEWS INTERNATIONAL MGT 
EMERGING ASIAN STRATEGIES FUNO 

9 tun B ■ ... .. S 1 1Z84 

a Pacific Ornret. sirat— — s ntc 


4607 

Hit 

27.48 

22J7 

1BJ» 

1X3 

735 

7.90 

10152 

1X54 

9J>4 

1051 

11.74 
1312 
*02 
9.18 
10.07 
10 IS 
9.«S 
Ul 
1130 
977 
7.13 


PICTET* CIE- GROUP 

wP.CF UK Vol ILus) 

w P.CF Germovai ILuxI . 

I* P.CJ Noramval (Lux) 

w P.CF vautier (Lurl Pin* 

» P.CF VaUtalta (Lim) Ul 

w P.CF Vaft ranee (lux) ff 

toP.UJ.Volbond SFR (Lux) JF 
h> PUS. Vaiband USD (Lux) J 
to P U^ Valborw Ecu iLuiUcv 
toP.ULF. Vaiband FRF (Lux).FF 
to P.U.F. VataM GBP (Lux) J 
to P.U.F. Vaiband DeM (Lux) DM 

nr P.U.F. USS Bd Pttl (Lux) S 

» P.U^. Model Fd .Ecu 


nun 

277637 

■7684 

178672 

129557 

10477 

1771.92 


to P.U.T. Emerg Mkts I Lux] 

ie P.U.T. Eur. Omari (Lux) —Ecu 
0 P.U.T.GtofiaJVahie (LlnUoi 
i* P.U.T. Euravai (Lux I— Ecu 

tf Pictet vaimiss* (CH) sf 

mlntl Smutl Coo UDM1 s 

PREMIER INVESTMENT FUNDS LTD 
C/o PA Bax 1106 Grand Cayman 
Fox: (80*1 9494)993 
m Premier US Equity Fund _s 
m Premier Inti Ea Fund— 5 
m Premier Sovereign Bd Fd— S 

m Premier Gtotal Bd Fa S 

m Premier Total Return Fd— s 
PUTNAM 

0 Emerging Htth Sc Trust s 

to Putnam Em. Into, sc Trusts 
tf Putnam Glad High Growths 
tf Putnam High me. GNMA Fds 
d Pumam inn Fund, t 


634)9 
101.15 
2625 
9*57 DO 
13278950 
1ZSLI4 
29357 
2298! 
185.98 
971J7 
96*9 
2*482 
997304)0 
12151 
18652 
15159 
15255 
22977 
*5550 
41614 


1170.99 

13*657 

81185 

1472JB 

*85.90 


0GSt' C H E iSu l . r,COr7WBfln<S - 5 


tf Eura High Inc Bond 
tf GMxtJEauHv 


tf American Blue OUo. 
dJODoiandr — 
tf UK. 


0 Euraoeon. 


3988 

3617 

2258 

<05* 

23.13 

9152 

,2788 

13640 

3641 

11583 


rri3K-KKK3B" F V2 

36399 
2627 
3692 


0 US Oaiior Money .. 

iau 

136X1 
14*113 


w HoMnM Qtter Com inc. 

w HasenblOiter Ohi 

WAFFY. 




MAVERICK (CAYMAN) (809) 949-7942 

mMoverlek Ffl. — t 1J7J847 

MCKINLEY CAPITAL PARTNERS. LTD 
m The Corsrir Fund Lid. 

MEESPIERSOH 

Pokln 55. lOlZkk. Amste r doffl [20.53111881 


11X1? 


to Asia Poe. Growth Ftf N.V. 

W Aslan Capital Holdings S 

w Asian Selection Ftf N.V— Ft 
to DP Amer. Growth Fd N.V. J 

w EMS Offshore Fd N.V. Fl 

w Euraae Growth Fund N.V. -Fl 

w Japan Diversified Fund S 

w Leveraged Cot Hold— s 

w Tokyo POC. Hold. N.V S 

MERRILL LYNCH 

tf Dollar Asset! Portfolio S 

tf Prime Rote Piortfoiin 


■DA 

S9.72 

96M 

3BUB 

10580 

4691 

5X99 

5957 

2*600 


QUANTUM OROUP OF FUNDS 

— 4dm DwHnmwii r 

» Emeratne Growth Fd N.V_s 

w Ouantam Fimd N.V.. s 

wOuantum intfustriot S 

toQuontum Realty Trust s 

wOuantum UK Realty Fund.l 

w Quasar Inrt Fund N.V s 

w Quota Fund N.V S 

QUARRY MANAGEMENT LTD 
Tetaghane : 809 - 9*94050 
Facsimile: 809- 949*8*2 
tf Atlas Artttrnoe Fd I 
tf Hesaorls Fund LM_ 


174U 

6D7 

1612 


9734 

17601 

15740*1 

9*28 

131.74 

10X2* 

14197 

156*5 


9029 

186*0 

10159 

8642 


MERRILL LYNCH SHORT-TERM 
WORLD INCOME PORTFOLIO 

0 Class A S 

tf CtassB S 


1J» 

1050 


MERRILL LYNCH 
GLOBAL CURRENCY BOND SERIES 
AUSTRALIAN DOLLAR PORTFOLIO 
0 Category A. 


653 

853 


w Mondjm rS CreiSnra c e 




CANADIAN L 
a Category A. 
0 Category ( 


LAR PORTFOLIO 
.CS 
CS 


CORPORATE HIGH INCOME PTFL 
tf Class A-l _ 


d Mertdhxi Hedee Fd Ltd S US 

0 Ztnim Fund Lta 3/5 S 

REGENT FUND MANAGEMENT LTD 

w New Korea Growth Ftf S 

w Nova Lot Poet He inv Co s 

w Pacific Arbffrooe Co s 

m RJ_ Country Wntf Ftf S 

tf Resent Gttfi Am Grrti Fd s 

0 Rogant GIU Euro Grin Fa J 

tf Regent Gtai intt Grth id s 

0 Regent Gib* Jaa Grth Fd s 

0 Regent Gib) Podt Basin s 

d Regent ORH Bwww « 

0 Regent GW Resources S 

0 Regent GW Tiger ■% 

d Regent GRU UK Grth Fa S 

w Regent Moetaii Fd Ltd s 

m Regent Pad He Hdo Fd_ j 

tf Regent Sri Lanka Fd s 

W Undervalued Assets Ser i_ 1 
ROBECO GROUP 

POB 9713808 A2 ftotterdanusi na 2241224 
a PG America Fund Fl ljgjg 


1254 

4.731 

9.1* 

2S98* 

69219 

60515 

27*81 

19437 

65382 

xi**e 

28820 

3J79I 

I. 9178 
9JI 

11107*1 

9.*3 

II. 11 


0 SBC I 

0 SBC Eq Ptfl-Nelfierl6. 

0 SBC Govern Bd A/B S 

d SBC Band Ptfl-Aulir 5 A AS 

tf SBC Bond PtfMustr S B AS 

tf SBC Bond Ptll-CorvS A CS 

0 SBC Band Ptfl-ConJS B CS 

tf SBC Band Ptfl-OM A DM 

tf SBC Bond PftHTMB OM 

0 SBC Bond PffHJuteh G.A—FI 
tf SBC Band Pffl- Dutch G. B_Fi 

d SBC Band Plfl-Ecu A Ecu 

d SBC Bond PtfhEeufl Ea 

0 SBC Band Ptfl-FF A FF 

0 SBC Bond PTH-FF B FF 

d SBC Bond PtfFPtas A/B PTw 

0 SBC Bond Ptfi-Stertlng A — X 

0 SBC Bond PtfFSterllrtg B C 

0 SBC Band Pgrftailo-SF a cf 
0 SBC Band Portfotta-SF B_SF 

0 SBC Bond PtfM!5S A J 

d SBC Bond PHHJSSB S 

0 SBC Bond Ptfl- Yen A Y 

tf SBC Bond Ptfl -Yen B Y 

if SBC MMF - AS— .— JI5 


3HSJ3I 

100154 

109J0 


123 


12388 

14983 

'SUB 

14756 

17855 

113J5 

129^ 


47617 


0 SBC MMF-BFR 
0 SBC MMF - 


0 SBC DM Short-Term A DM 

0 SBC DM Short-Term Q dm 

rf SBC MMF - Dutch ft c i 
0 SBC MMF - fo. ■ ■ Frr, 

0 SBC MMF - Fir Kir- 45744250 

tf SBC MMF - FF FF 2522112 


5485 
5672 
113285 
138698 
18X82 
107 to 
IKC41J0 
11529QJJ0 
431984 
112449X0 
889X63 
107753 
1329XS 
734694 
37*678 


d SBC MMF - LM. 


0 SBC MMF -Pto* 

d SBC MMF -Schilling 
d SBCMMF-Ste ” 
d SBC MMF - SF. 


d SBC MMF -US- Dollar. 

0 SBC MMF- USS/II 

0 SBC MMF- Yen. 



0 SBC GFN-Pffi 5F I 

0 SBC GtbJ-Ptll Ea Grth Ea 

0 SBC GIM-Ptfl U50 Grth S 

0 SBC Glbl-Ptfl SF YM A SF 

0 SBC Glbi-Ptfl SF Y(d B SF 

0 SBC GW-PW Era YM A - Feu 

d SBC Glbt-Ptfl Ea YM B Ea 

0 SBC Gib*- Pit J USD YMA S 

0 SBC Glbl-Ptfl USD YM B S 

0 SBC Glbl-Ptfl SF inc A SF 

0 sac G»H»ttt SF tnc a SF 

0 SBC Gtbt-Pffl Ea Inc A Ea 

0 5BC Glbl-Ptfl Ea I IK B Ea 

d SBC Gtet-Ptff USD Inc A 5 

d SBCGW-Pffl USD tnc B J 

0 SBC GW Ptfl -DM Growth— DM 
0 SBC Gl« PTIFDM YM A/B -DM 
0 SBC GW Ptft-DM tnc A/B_DM 

d SBC Emeretag Morkrts 5 

0 SBC Smofl 4 MW CMH Sw-SF 

d America Volor S 

d AngtaVoior. 


0 AdaPorttatta. 


0 Comrert Band Setecttan 5F 

F gjjfre* Bond Sriectlon DM 

tf Dodrn Bond Selection S 

0 Ecu Bona selection— Ea 


0 Flortn Bond Selection. 
d FronceVatar. 


tf Ge rmwttoVotor- 
a GoMPorrtaita— 

tf ibertaVolor 

tf ItafVitfor. 


Fl 

-FF 


tf JrewnParttrita- 


0 Starting Bond Selection i 

tf Sw. Foreign Bad Select lon5F 
d 5tolss voter SF 


0 Unhrorsal Bom Setecttan— SF 

tf Universal Fund SF 

0 Yen Bom Selection Y 


5910X8 

722644 

209353 

swsexoo 

118858 

128X97 

1177.74 

110957 

121042 

1 2 0625 

122647 

10*601 

1171X1 

106614 

1103*4 

1T3640 

1151X1 

997.94 

1021.91 

107621 

184649 

1037X5 

107)88 

529X0 

33624 

22*84 

45487 

10699 

11631 

13614 

W3JB 

12057 

216690 

55193 

351X3 

80*75X0 

S453SX0 

2465625 

11699 

110X4 

541X5 

7625 

121.14 

11024X0 


tf UBS AHM lnvest-U5S~ 
0 UB5 MM Invest-! St— 
tf UBS MM invesFEa. 


tf UBS MM Invest- Yen- 
d UBSMMlnvKK.lt. 


Zen 


_Y 

JJt 


0 UBS MM lavgsf-SFR A 

tf UBS MM Invest-SFR T SF 

tf UBS MM Inverf-FF FF 

0 UBS MM Invest -HFL Fl 

tf UBS MM Inveri-ConS CS 

0 UB5MM Invest-BFR .BF 

0 UBS Short Term Inv-OM DM 

tf UBS Band tnv-fniA Fn. 

0 UBS Band Inv-Ea 1 Ea 

0 UBS Bond Inv-SFR SF 


6951 y 
9620 y 
469V y 
10690 y 
12X80 y 
10640V 
10980Y 
10280 V 
8X14 y 
107 XDy 
6681 v 
73X8 y 
10630 y 

’Sf? 

9950 V 
11630 y 
1015SV 
119. My 
90145X0y 
181625 
41072 
516X7 

liSSSS 

509694 

581154 



w ttxBgo Currency Fd LW—J 
r Inrt Securities FUW 

0 r i*A~l4i 

tf 1>VMtoDW5_— DM 


w Scorea Dmmtc Fund- s 

w Korea Growth trial 


ir La Fayette HddJnaa Lid— J 
i JoOa ltd Grth Fd Ltd— J 


MLq 

b Loterman: Offjftore Stnd—l 
i* Leaf Savi — « 


m London Mt rtteBo Servtcex— S 
mLPS Intt u» t* j 


w KUOnadon Onshore, N.V—J8 
m Master Cot 6 Hodge Ffl_ j 

w Matterhorn Offshore Ffl s 

to MBE Japan Fund LF 


toMUtamlwn bifetwdtenai— S 

bimjm HHB 3 it o — b 

m Momentum GuOd Lfd— — J 
mMont Blanc Hadat— J 
toMuffffWures ■ — f c 


0 New NUneMdum Pat. LSd-J 
tf Newbredc Debentures— — Si 
m NMT Astrei SeL PartMta S 

lir Noble Partners InN LM—S 
fllNSP FJ.T. LW— ?l 


atOasan Slrategtas Umttea-s 
to Old iron***, mrt itn ■ «i 


mCmwao Overseas Partners J 
mtt» M *Hnwtll*Hi — % 

mopftmum Fund i 

to Oracle Fund Lfd 5 

Iff Overton* P e rt ar miM ir w. A 

mPactf RIM OPP BVI May 89X 
mPun Fixed inc Ffl lJanH)_S 
m Pan ijttarnaftandj|a^M 
toPoncurrt inc^M 


m Panpipes OfUtare (Mar 31 )S 
otParam Fund UmltMi-_j 
m Parallax Fuid 

m Preoat Ictfl Fund. 


► Pturioestlon Ph»1 forex _—J=P 
vPlurigestfan Ptartealeur— FF 
to Ptartveet Stow FF 


m Pambay OvereenUd^Hi 

m Portuguese 5mo( tor Co J 

m Primn Ccafigi Fund i*t < 
m Prime MulfWnwst-: 5 

mPrlrnen Fleet < 

tf Proflrent^^^^^^H 


to Pyramid inv . _ 

d RAD lot inv. FA 

0 Reool Inti Fund LM 
m Rehcam N.V, 


/ Rle inavest Fund B 



iES u,,- r; - ’>-3* ^**** 1 

mU -.kl !. ^ . ‘>4 . • — T-mrar-nWJIWP' 

•rK -r; „ • . e-.*6v«» ^ 

na CMObf 


to RM Futures Fund Staiv S 

toSaflorts Intt Equity Jot 


to SaitarY Inti Fixed. 


tf SreivoKte. Spain Fd 

tf Sarofcreek HeUtaa N.V. 

toSatuni Fund^^HH 


m Savoy Fund m « 

- ' i BVI Ufl i 


ImSC Fuatam-Vol U U iMH 
d SCI / Tech. SA LumiKBund 

mSdmnar Guar. Curr Fd s 

mSdmlter Guaranteed Pd s 

mSefecto Gtabot Hedge Fd— I 
d Setacttve Fut. Pitt Lid 8 

wl^Sr«Nlltt9unft I tit ~ * 

ItoSJO Kabo) (409)921-8595—5 


5SS 


d UBS Bond Inv-DM DM 

d UBS Bond Inv-USS S 


0 UBS Bond Inv-FF. 


tf UBS Bond Inv-Can S. 
0 UBS Bond lnv-Lit_ 


.FF 


-J.lt 


tf UBS B.I-USS Extra Yield— 5 
0 UBS Fix Term inv-U5*94_S 

0 UBS Fix Term tmnSJ94 c 

0 UBS Fix Term Inv-SFR 98-SF 
tf UBS FU Term Inv-DM 96 — dm 

0 UBS FT* Term Inv-Ea 96 Ecu 

0 UBS F lx Term Inv-FF 9* FF 

2 H25 E* '"V-Eurape A — — DM 
tf UBS Ed Inv -Europe T DM 


1019JM 
2*451X0 
5565* 
10673 V 
15751 y 
KO.MV 

Ml 

101,74 y 
9339V 


nr SmHlt Barney Wridtnl SecJ 
nr bnltti Barmy WridNdSaecS 
toSP interaatlonal SA A Sh— 5 
wSF international SA BSb_j 
at Salrtt Hactae HU S 


m Saint Neutral HU_ 


to Stanley Ram Futures Fund 

wStebihordt OYrra Fd LM S 

nr Steintwnn Rerity Trail s 

mSfridar Fund S 


mStrome Offshore 8 

tf Sunset Giatori ill i 
0 Sunset GtabaiOne 
RtSasMxMoSarrH 




S' 


0 UBS Ea Inv-S Can USA. 

0 UBS Part I Fix Inc (SFR)-SF 

2 HS5 ! 5* lnc (DM} —dm 

rf UBS Port Fix inc (Ecu). Ea 
tf UBS Pan l Fix lnc (USS )— % 

tf UBS Cot Inv-98rt0 SFR SF 

tf UBS Cot tnv-ea/io USS S 

tfU BS COT lnv-90/10 Germ— J3M 
WORLDFOLIO MUTUAL FUNDS 

0 % Dalty I name 5 

tf OM Dolly Income —OM 

0 5 Bond Income $ 

d Hen- * Bonds.— _j 
0 Gtabof Bonds— _x 


1 

107X3 V 
10156 V 
241.11 y 
24754 V 


to Toon Growth Fund _ 

0 Temnteton Gtatxd Inr 

at The Bridge Fold N.V. S 

m The Geo-Glabai Offshore s 

tf The (ram Mutt) Adrian— s 

mWto J Fund B.VJ. LM S 


-lull IT 

& 


1ST WATCH 


* The Jaguar Fund N.V.. 

d The Urtn Eautrtes Fd _* 

tf The M'A*R*3 FdSteavA— S 


S*S 


raw 


i«5r r l iffiSSSKSS 1 -?* 


DO HI v JBIUMPT3 ra u 

lSSv Smart Band LJd_ 

tSSJ w The Yeflovr Sealnvf Co. 


9Wt 


lltiiiU' Shod 


108X2 v 
10683 V 
12752 V 


0 Giabai Batonoed. 


0 Global Equities. 


0 US Conservative Equities _S 

d USAgresslve Equities % 

d European Equities s 

d Pacific Equities— —_j 


0 Natural Resources. 


1X0 

1-00 

17.28 

2637 

19.99 

1622 

1622 

1610 

13.91 

11.14 

1134 

7X1 


to Thma MM Futures 

mjtere setae Hold HV BJfl > 

5 - 1 *- ra «wv-» 

» TriryolOTCl Fond Slcov _J 
to Trans Global Invt Ltd— J 

d Trrxnpodfic FixM Y 

» TrtdfyFutures Fd LM % 

m Triumph | « 


W 


ns 

1183 


19519 

2HM5' 


- ' ■ ■SbZ e *r- 


/nTriumrii ii_ 


m Triumph III. 
m Triumph IV. 


0 Turquoise Fond. 


m Tweedy Browne Inn n.v I 

w Tweedy Browne RV. a A^S 

Browne fLv. a 0 I 

d UbaFidrewt. _ cc 


Ollier Funds 

irAcfjcrahsance Sfcow. 

to Acllflnnnce Slav 

w AcJHufures LM 

W Acflgesitan : 


-FF 

J 


to Actives? Inrt Stcnv. 
wAcrtakte- 


-FF 

J 


mAdvonced Latin Fd LW— 
m Advanced PoctflcStrgt— 
w Advanced Strategies LM. 

to AIG Taiwan Fund 

ntao Investment. 


toA*f«a Infernattanal Fund j 

to Artnfln Investment s 

wyguaFimaBotanced SF 

if Araus Fund Bond SF 


0 Aria Oceania Fund. 


wAS5 (Derivative) AG— DM 

ASS (ZWCS) AG DM 


mAjscclated inveslera lnc. 
wAttwno Fund Lid 3 


irATO Nikkei Fund. 

w Barant Hedged Growth Fd j 

>v BeOtmon Im C«j Acc. S 

toBEM International Ltd S 

d 8 kiteemMorvaf ESF_ ..Ecu 

2 fSH7 r (Cnymimli 

0 Btecmar Gtaboil Bahamas) 1 
to Brae (nternaftonaf FF 

0 ~ “ i 1 j 


TEMPLETON GLOBAL STRATEGY SICAV 

0 Gtabof Growth J 12X4 

0 DM Gtabai Growth DM 1607 

tf Smaller Companies — i 12.98 

2 ST * '618 

0 Far End « 

0 Emofrino MwrkeK % 1S60 

o European ! _sf 11^*7 

0 GtabOl (name Z_ j 

2 p yg***^ dm w£ 

0 US G owrnm—ii « fi4 

tf Emerofne Mkts Fix Inc S 11.97 

F _ 1095 


L * ve roge Fd Lta_s 
mCOT hol Afla ureO InOta Ffl— 1 
0 CB German Jnfle» Fund — dm 
mCarvIn Growth Feq— j 


m outrun mu (bvd lm 

toOlodol Lfmlfed 

0 CM USA 


JF 


to CM I Investment Fund. 

m Columbus HoMtaoe 

m Concorde Inv Fund. 


to Crirtlvest Arttons Inti— BF 
toCriiflvesl ObK Beta* cr _.e e 
to Conn vest OMI Wortd LUdm 
toConvrrt. Fd mnA Corii—J 

w Convert. Fd Inn B Ceriv s 

m Oralg Drill. Cop . 


mrSSfS^ 110 " S" 1 *® Mor^ 31* 
mCRM Futures Fung LI 0—5 
to Cumber tnri N.V. . « 


w Curr. Concept 2000 \ 

d 5-WtterwwwidenrtYriIi 

to _ , 

d Dofwo Japan Fund y 

tf DB Araenflna Bd I 


Ji5£^S" WXrtDE INVESTMENTS 
GROWTH PORTFOLIO 

2 * im 

0 ocii 4-i . i>to 

tf Ctaxs M— * 1470 


tf OBSC / Matin Band fhjoo— 5 
* Derhmtive Asset Alloc S 

f Amertao Funa % 

t DVT P ertoniiui Kj ? Fd t 

m Dynasty Fu ntf_ Z 

» tin Overseas Pund Ltd I 

7 §!L , ?Jf’7 r W Fund Lfd c c 


tf End Beta. nd. Pta ft nc 

tf Em Beta. |n f Ptus SmTjF 

2 is ^2"" Pl “» aIUff 

2 France lnd. Pius b cp 

2 IS S*""- pu» aCZdm 

tf Emt Germ. tna. Plus n n E 
2 |5! !M8k Phis A C| 


2 l m ! 2s?- ,n5fc * Plus b“fi 

0 Emi Spain fnd. Pfu a hL 


d Emj Spain' !nd! Pl« R £ {? 

0 Eml UK Indoe Plus A r 

tf eml UK index Phaa 5 

m EwAM gr OHihere LW^ L 

W Esnlr. Sto Inv. M Ea n 



531X2 

87123 

181751 

4X7.74 

2433 

M67J1 

108.95 

*683 

157.ffl»I 

110503 

936X11 

55171 

943X7 

124055 

110634 

1X78 

19X6 

37753 

911X7 

1025012 

87621 

539X10 

158 

11.15 
117X1 
*3851 
39755 

982186 

50.15 
22442.94 

0X8 

15755 

6409 

10002.17 

1*607 

259X9 

12*7X0 

22944 

117X79 

9941X0 

10003 

49US 
2039 
7639 
14070 
11ELSB 
75603 
4»* XI 
10614 
2644 
314X4 
6922 
*38653 
103627 
115651 
7150 
15678 
158 
16I5M 
991.15 
11*32X0 
17189X0 
989 J» 
101647 
10954 
11140 
47194 
. 64685 
1174600 

122*7X0 

129.13 

140*4 

Mils 

107.98 


tfU baFitf ypeiDolllg— 
. r Ultfrna Growth Fd (Jd__ 
2 jo DoM FUnd LM 
0 Umbrella FundUd 

» Uni Bond Fund, 


9U 
,«JI . 
Slkf 
sax 
MUI 
210# 
es 

n*J. 

36S»^ 


17 rr T >« 


*l5rr i*i • k 


1 m# 

ECU 23^ 

toiwjCopBriAliemaone DM - *** 


wJW COTitai ConvertWes 

to UM-GMM Stasv DEM DM 

to ftlhgjotat slcov Ea — . Fa 

w UnJ-GWni Skny FRF FF 

to VM-Gtabai Sicav FS JF 

to lMI-Gtabaf Slcov USD S 

0 Un a Euuttv Fund DM 

d Unia inv. Fund —DM 

m Unffradeo CHF— — SF 


OB# 


munltradesCHFHeg 

ra Unlfrad oo FRF— 

mlfnttrodes usd 


-FF 


to limn inn LM. 
mvolbonne. 


m Victor Futures Fund 5 

b y°2*er ItNt shtMta Plc-J 
toVufturaud. 


m Writes Wilde r inti Fd. 
w WDIer Japan 

w Wilier South d 


Ito WBUowbrtdBO Intt CFM S 

2’H2&S°1FdBd.PI»l -Ecu 

2 whltjtobat fue^f™ Ecu 

2 R« SF 

iSgli Bateocad Fi nd LA-J 

/nwwtdwlde Limlfed-^^BB 


toWPGForber ojibot 


mvyw Coprtnf Grth 

m roima 


mZeahvr Hedge Fund- 
mzwrio Infl Ltd— 


4WJJ 

ima 

■ IJT2J7 
71X5 
MM 

I-ITIN 

: .TM# 

va* 

•■SSI 

M3J7 

-jaj 

V70 

imif 

wji 

« 

ifl® . 
ma 

22S37 

JS 

w 

JSS 


••••.. - . . . 


. : v;SW 
Y.5« i 


•>-c -Kwrk 


VUf 


*ki r -~;: r. - 
—■ ■■■' - • -v 


■k^ATJSPC 

•: iAs w-uefc 

.2:. “ - “rrr 

pif s .-.I"" ■ 

- ■- rkn* 

sc 

zat&Q 


£ . ci-. are 


i - “TjSii;*-..-’ - 1 - . _ 

y^tcor M ii 

, yi ■~ v: - r- r ^ 





ostapi 

v;.— - ~ Sctvk 


It's never 
been easier' 
fa subscribe 
and save. 
Jurfcafl - 
toO-free: 
0800 I 7538 



| i k c = M 


l-ria e* 


For information on how to list yo » r fund, fax Simon OSBORN at (33-1) 46 37 21 3* 



The conference program 
will highlight the investment 


opportunities in 


Latin America following the 


region's economic revival 


Latin America 

A New Investment Partner 


LONDON - JUNE 9 - 10 • 1994 


HcralbSSribunc 


ivtifl wuni 



INkSIONtWI lure. 


for further 
INFORMATION ON THE 
CONFERENCE: 


V ^ '-t z : *' m ,!s = La- 


Vh 




•‘•c» . . 


Pr ' 7 t-'BI Sjtij 


" ^ 3;.; 


Brenda Hagerty 

Imernational Herald THbooe 

ng Acre ' London WC2E 9 JH, England 
Tel: <44 71) 836 4802 

Fax:(44 71)836 0717 


v 1 V 


v W| of wr 



l o»'^ i 


Kb ' 




Koreans , Again 9 Challenge Japan 

Bid to Break Hold on Flat-Panel Computer Screens 


By Andrew Pollack 

New York Timer Service 

KJHEUNG, South Korea — 
Having smashed Japan's control 
of the computer memory-chip 
business, South Korea’s electron- 
ics giants are now poised to break 
another Japanese near-monopo- 
ly, this one over the production of 
advanced flat-panel computer 
screens. 

The Korean entrance into the 
flat-panel-display business could 
lead to lower prices for notebook 
computers. It could raise ques- 
tions about the necessity of a pro- 
gram recently announced by the 
U.S. government to provide up to 
$600 million over five years to 
help develop an American screen- 
manufacturing industry. 

Samsung Electronics Co. and 
Goldstar Co. said that next year 
they plan to begin mass produc- 
tion of active-matrix liquid crystal 
displays, or LCDs, which are used 
in advanced color notebook com- 
puters and in portable televisions. 

While initial production rates 
wQl be sm»n t the implications 
could be huge if the Korean com- 
panies can repeat the success they 
have had in memory drips, anoth- 
er business race nearly controlled 
by the Japanese. 

After less than a decade of pro- 
duction, Korean manufacturers 
now supply about one quarter of 


the world market for dynamic 
random-access memory chips. 

Samsung is the world's biggest 

supplier. 


"When you look back ai the 
semiconductor industry five 
years ago. the situation was just 


the same as it is in the LCD 
industry today,” said Cho Kwang 
Ho, president of Goldstar's LCD 
division. 

Indeed, Samsung’s new com- 

puier-screen factory is being built 
in this city outside Seoul in the 


same campus-like complex that 
stive s< 


houses its five semiconductor fac- 
tories. The technology and pro- 
duction process for active-matrix 
LCD screens are similar to those 
for memory chips. The buyers of 

See SCREEN, Page 15 


A Look atthe Fiat-Panel Screen Market 


’Ssitetfaf flat-panel screen*? 

$6 tiitav*-" — " 


■■ £ ► Breakdown of the 1334 marine!, 
tnmlSons. 


CONSUMER PRODUCTS 


'.'MActivs-mapjJt" 





Color, poriafcte and projection TVS, 
hancfceJdsames, organfeers, vfewgndet 
portable VCRs. 

WOUSTBMU-USEShtecflptf 


,<:?/< “and ntachinestoakttrcJ'N'l 
factory processes 


BtiSMESS RHD COMMERCE 

S3297- • jjses Copte®, prc$a&Qry. '%{ 


Snandal terminate 


• ' tqfWUTERS Wfefoiatonflk *\f- ■ : At&wfcbfe AMdfjpfe-# * 

■'.'wor^ processors, riritoboolte : ^d'fBarine.:f^i^atk^al- ’ 


... _ . and pen cempoters --y~- 

*&*<*#:: ; ‘ . £ -:r.- • ; j ; - ; '?i v--?.! \ ' : V 


The New York Tunes 


China Threatens 
Retaliation 


In U.S. Trade 






*-? . 
w 

1 'W W .. e . 

3WW&. 1 '*- 

ai* i*** 

■Hift rw-j ■- . 



: ■ 




D 

19B3 

£+* Worid Index 

t ? Cte - & .tof "**?. * ***** tt Tokyo. Nam You, London, end 
ygnMna . AuB Ufcflg, Austria, Btfgluni, Brazil, Canada, Chfta. Danmark. fMwkL 
^- K * ^ ,! taty l |lto dco ’ NathaSStta. NnzS Nonny[ 
SpakLS wodan, Swteariand and Vanourts. For Tokyo. Alow YorkmJ I 
^ 20 fQP tesuas in terms o t mmto capteOarlon. 1 
otherwise tfw ton top stocks am trackod. 


Lack of U.S. Inflation Calms Markets 


2: 


Industrial Sectors 


Thu. 


n» piml 


Ene ng 112.11 111.36 40.67 Capital Goods 111^3 11050 40.66 


** -- 



UBUu U651 116.64 40.15 HawKUariab 124-23 12149 40.60 


11650 11657 +0.46 Conwmar Goods 96.17 9 5 5 0 40.70 


Sendees 11456 11421 +058 


12558 126.43 -053 


For mom Information about the Index, a booklet Is avalabfB free ot charge. 

Write to Trib Index, 181 Avenue CterieedeGauBe, 82521 NeuByGedex, Francs. 


e Wwi at l o n a l Herald Trfcune 


Compiled by Our Staff From Dispatches 

WASHINGTON — Falling ener- 
gy and food prices made wholesale 
inflation disappear last month, the 
government said Thursday, while 
two other reports shewed the econo- 
my’s rapid-fire growth moderating. 
The reports helped calm nervous 
fiiwnmil markets. 

The Labor Department said the 
producer price index, which mea- 
sures inflation before it reaches 
consumers, actually fell for the first 
time this year, edging down 0.1 
percent in April after having risen 
02 percent in March. 

The April performance was 
helped by declines in the cost of 


fruits and vegetables, home heating 
oil and tobacco. 

In another report, the govern- 
ment said retail sales fell 0.8 per- 
cent in April, helping to reueve 
fears that consumer spending was 
growing at such a torrid pace that it 
would trigger further inflationary 
pressures. 

A third report showed that the 
number of newly laid off workers 
increased by 26,000 last week to the 
highest weekly level since late Jan- 
uary as layoffs in corporate Ameri- 
ca continued to take a toll. 

Wall Street, which had been rat- 
tled by unexpectedly strong eco- 
nomic activity that raised fears of 
inflation, rauied on the reports 


showing inflation remaining con- 
tained and economic activity slow- 
ing from its torrid pace of late last 
year. 

“Inflation and runaway growth 
are not a problem, at least for the 
present.” said Martin Regalia, 
chief economist of the U.S. Cham- 
ber of Commerce. 


736 percent from 7.60 percent 
Wednesday. 

Against a backdrop of weak in- 
flation and recent increases in in- 
terest rates, investors see “that if 
we’re not at the high end of the 


interest-rate cycle, we’re pretty 
i Bellini, 


The Dow Jones industrial aver- 
age dosed up 23.80 points, at 
3.652.84. .Advancing issues out- 
numbered decliners on the New 
York Stock Exchange by an 1 l-to-9 
ratio. 

The price of the benchmark 30- 
bond rose 13/32. to 
1/32, and the yield slipped to 


dam close to it,” said James ! 

director of trading at Dain Bos- 
worth in Minneapolis. 

Philip Morris was the most-ac- 
tive Big Board issue, jumping 2% to 
50% on speculation its board will 
separate its tobacco and food busi- 
nesses at a May 25 meeting. 

Storage Technology rose 1 29/32 
to 28% after the maker of informa- 


See MARKETS, Page 12 


Michael Richardson 

International Herald Tribune 

BEIJING — In an apparent ef- 
fort to preempt selective American 
sanctions, China’s senior trade ne- 
gotiator warned Thursday that 
Beijing would retaliate if President 
Bill Clinton decided next month to 
withdraw any of China’s most-fa- 
vored nation trade benefits. 

In an interview, Wu Yi, the min- 
ister of foreign trade and economic 
cooperation, said that China “will 
not accept any partial most-fa- 
vored-nation status.” 

Alluding to recent reports that 
Washington might withold most- 
favored-nation benefits for exports 
from Chinese government fac- 
tories, she said that Mr. Ginton 
was trying to “save face.” 

Earlier, in a speech to an interna- 
tional conference an China's econ- 
omy, she said without naming the 
United States that the outcome of 
“confrontation, sanctions and re- 
taliation trill be the outbreak of a 
trade war.” 

The meeting, which ended 
Thursday, was organized by the In- 
ternational Herald Tribune and 
China’s State Commission for Re- 
structuring Economic Systems, 

Representatives of U.S. compa- 
nies attending the conference ex- 
pressed concern that any change in 
Beijing’s most-favored-nation sta- 
tus would undermine U.S. business 
interests in China and hit exports 
to a potentially huge market 

“It would be a very shortsighted, 
counterproductive move” for the 
United States to make, said Patrick 
J. Ward, chairman and chief execu- 
tive of Cahex Petroleum Corp. 

Expanding exports is critically 
important tO China’s nmnnmir 

growth, especially since the country 
had a trade deficit of more than $12 
bfliion in 1993 amid rapidly in- 
creasing industrial and consumer 
demand for imports. 

Having most-favored-nation 
trade benefits allowed China to ex- 
port goods worth about $30 billion 
to the United Stales last year atthe 
lowest tariff rates. 

Loss of those benefits would 
price many Chinese products out of 
the U.S. market 

In extending most-favored- na- 


See TRADE, Page 12 




■nvjrcr . ■ 


m ayaat- — i- 
MUM* — * ' 


©to; 


^ m> : 

r «* *> 5 

in* *«-*•» 

••MM*** 

Sri,- 

3 - 





WALL STREET WATCH 


A Utility Shocks Investors 


By Agis Salpukas 

New York Tima Serna 

EW YORK — Many owners of utility 


stocks are older people who depend 
ae. They 


N heavily on dividends for income. 

are largely passive investors conctmeu 
mostly with cash in g dividend chec ks . They know 
little about the companies they own or the trends 
in the industry because they are apt to haveolhers, 
such as brokere. choose the companies to buy. 
Such investors had better start paymg attennon. 

to 


dividends and ri^gshsic prras.^ 


On Monday FPL Group, the parat ctf J-ionoa 
PiSrTljJt Co, stung 
sS adividSdcut, slashingitby 32 percent, to42 
tynK a share from 62 cents. 


any cut dividends opIy wfam tWB 
bv for example, a denied rate uKa^e. 

- * AWmaA rhairman of Florida Power 




pal problem on tne ... umn. 


-a, ty at ASmi** its rivals soon. 

T*L worrying about future compe- 

Some utilities Meworiy^^^ Service 

rition bccau^ ^^^Ywuid let major indus- 
Ccanmissionprop^ *“* whcW ve r to 

stasia issrfusi w^d p« ^ 


CaKfomia utilities under pressure at first, such 
competition is expected to spread to other states. 

Bnt Mr. Broadbead arid that Florida was not. 
headed in that direction. Even if it did, he said, 
only 4 percent of Florida Power & light customers 
are industrial clients who could shop elsewhere: 

Explaining die company’s dividend cut, Mr. 
Broadbeadcalled FPL Group one of the industry's 
most generous companies, paying out 90 percent 
of earnings in dividends. It had reached so high a 
level, he said, that it faced the prospect of a 
dividend freeze. Such a freeze, he said, would have 
eventually frustrated shareholders. 

Instead, he said, it was decided to take a large 
cot and bring the utility more in line with many 
rivals that pay about 60 to 65 percent of their 
earnings in drodeods. 

FPL Group win use some savings to buy back 
about 10 nriffion outstanding shares, a move that 
could strengthen the share price. Mr. Broadhead 
said that shareholders could benefit not only from 
a higher stock price but also from the fact that 
capital gains are taxed at a lower rate than divi- 
dend income. 

By lowering the payout rate, he said, the compa^ 
ny win also be able to increase dividends again. He 
said a dividend increase of 5 percent was a good 
bet for February. 

While that may be fine fra those buying the 
stock now, current investors are still reding. The 
utility's stock fell by $4375 a share on Monday on 
the New York Stock Exchange, to $2730, and has 
since rebounded only to about $2925. 

Nathan Partain, the utility analyst fra Duff ft 
Phelps, said the contention of gams in the long 
haul does not help many shareholders who depend 
on the dividend, i ou teU them that over the long 
term you will increase their value,” he said, “but 

they have to eat next week.” 


Beijing Urges 
Annual Talks 


Iraemadonal Herald Tribune 

BEIJING — Prime Minister 
Li Peng said that China want- 
ed to nave an economic sum- 
mit meeting, such as the rate 
that ended here Thursday, on 
a regular basis. 

Mr. Li said he had “no in- 
tention to compete with Da- 
vos,” the annual international 
economic forum held in Swit- 
zerland, but that there was 
“full support of the Chinese 
government” fra repeating the 
“China Summit” annually. 

More than 500 foreign and 
Chinese corporate leaders and 
senior government officials at- 
tended the conference to dis- 
cuss the role of foreign busi- 
ness in what China calls its 
socialist market economy. 


Fiat Reports Huge Loss but Cites Hopeful Signs 


Bloomberg Business News 

MILAN — Fiat SpA reported on 
Thursday heavy losses for 1993 but 
said its sales grew 1 1 percent in the 
first quarter of 1994 and that it has 
returned to an operating profit. 

The Italian automaker said it 
had a loss of 1.78 trillion lire ($1 
billion) in 1993, compared with 
profit of 551 billion lire in 1992. 
Fiat had indicated in a letter to 
shareholders in January that it 
would have a net loss of about 1.8 
trillion lire. 

The first-quarter results sbould- 
“surely provide comfort for the 
possibility of achieving the group’s 
primary objective fra 1994. which 
is to break even for all the group's 


operating sectors." a Fiat spokes- 
man said. 

Carlo Digrandi, who follows the 
company for Paribas Capita] Mar- 
kets in London, said the improved 
start in 1994 “is above expectations 
and probably above Fiat’s own ex- 
pectations. But it's too early to say 
if the trend will continue.” 

Mr. Digrandi noted that car sales 
figures in Italy have recently given 
contradictory signals about wheth- 
er their long slide has ended. 

Most analysis expect Fiat to show 
a net loss of between 500 billion lire 
and 600 billion lire in 1994. and to 
post a slight profit in 1995. 

Fiat also said it would ask share- 
holders at a June 29 meeting to give 
die company permission to issue up 


to 10 trillion lire in bonds or slock, 
but did not say whether it bad defi- 
nite plans to actually raise capital. 

Fiat’s revenue in 1993 was 54.56 
trillion lire, equal to 33 percent of 
Italy’s gross domestic product. Fiat 
is Italy’s largest company by a wide 
margin in terms of annual revenue. 

Fiat is in the midst of overhaul- 
ing its car models. Late last year it 
introduced the Pun to, a replace- 
ment for its best-selling Uno, and 
the car that analysts said wiD de- 
cide the future of the company. 
This year. Fiat will replace several 
other models. 

About half of Rat’s revenue 
comes from cars, but it also has 
transport, industrial, aerospace, 
chemical and insurance activities. 


Fiat’s loss before taxes and fi- 
nancial charges was 839 billion lire 
in 1993, compared with a profit of 
237 billion lire the year before. 

But Rat said that in the first 

? uaner of 1994 its revenue rose to 
4.75 trillion lire, up II percent 
from the like period a year ago. It 
also said its profit before tax and 
financial charges in the first quar- 
ter was equal to 02 percent of reve- 
nue, compared with a loss a year 
ago equal to 1.7 percent of revenue. 

While that implies an operating 
profit of 293 billion lire, compared 
with a loss of about 223 billion lire 
a year ago, analysts said. Rat said 
only that it had made a pretax 
profit in the first quarter, declining 
to provide further details. 


Fiat said' the improved results in 
the first quarter were mostly the 
result of cost controls. It said its 
general expenses fell to 143 per- 
cent of sales from 17.0 percent in 
1993’s first quarter. 

Rat shares gained 125 lire to 
7,135 lire Thursday on expecta- 
tions that it would report positive 
results fra the first quarter. 

■ STET Gels 1 Trillion lire 

STET SpA, the Italian telecom- 
munications firm that is beiiig pri- 
vatized, said Siemens AG, (be Ger- 
man electronics giant, wQl pay it I 
trillion lire as a result of the mragei 
of its Italtel SpA unit with Semens 
Tdecommumcazioni SpA, AFP- 
Extd news reported from Rome. 


World Air Takes 
El Al for Israeli Mights 


By Richard M. Weintraub 

Washington Poet Service 
WASHINGTON — Two air car- 
riers with long histories of special 
service to their countries are locked 
in an unusual battle that likely will 
be resolved rally by a decision at 
the White House. 

The Israeli government has told 
the United States that it is unwill- 
ing to give World Airways rights to 
fly to Td Aviv because it could 
endanger the economic survival of 
its national airline, El AL according 
to officials familiar with the com- 


gUPBEMCT & INTEREST RATES 


Crosf Rtf** 


E OM- 
17M5 1.UB 

jus nsos 

1*3 

2JSU 


OFI 


lUfl 

um 

un 

nstt 



s 

uas 

M SOi 

xS »» “» 

S?. S - 

rBrt,tw --- ucs -ri 

» u tt U® “£} q5i» U® 

w «* o® * Zx U« 

a S! 


Tired* 


FJF. U™ 
njzN UtTI’ 

£06 US 
njtrr &»*s 
&5H £S« 

MM ui 1 

i s 

” up* unJ 
US 


as. 

w 


5UI 


SJ% 

UI6 

MB 

LUff 

1UJJ 


May 12/Mnyll 
Y«a C* Pweta 

uta- us ui* 

8J31S 2&U 

uon* ins 
Vtx 1M* 


KM' 

1W 

US 


JM 1 HPK J3L H* wjn 

,iciv nil 


E2JB *56 1JM ,,,W> 


lM 

uu 

J2M 

tSM 


j acts 
SSM m 


1MB 

u a 

TSM 


MO 
HUB 
im 
mats 1 

4T6T ■ — 

J975W U » 

MSI 1 VlUi 
r ^ f a K a» a tto*» n ' nmt * ar 

Toronto 


UB* 

US' 

BMP 

UI7SI 


t m 

1-5E28 

U3W 


tun 

1M 

4.161 • 
033ft 

US* 

ISO* 

19.1 U 

1NJW 


Eurocurrency Pepo»K» 

Swiss 


French 


May 12 

DoSor 

D-Mark 

Fraac 

Sterling 

Franc 

Yen 

ECU 

1 month 4«r4h* 

5W-5V- 

3<Hr4H. 

Mh 

SVi-PA 

2 r»2»* 

S**-5*i 

3IIHBNB 4«»r4%W 

SSfe 

3*W 

SMK> 

SIMM 

TMU. 

5Vi-SVfc 

Smooths 5W5V» 

4TW 


SVrS*. 

S^V5M) 

2 ‘•^5 *. 

5‘1-SSb 

Tutor 4 

Sources: Rooter* Doydt Soft 

3?W 

«ttv 

■"PV’P 

2K-2Y1 

Q-i-ytt 


f ^q tmpOeattetob d ettxnadeposOsotSinmonrranlrnumlor eauhalmu}. 


muni cations between the two gov- 
ernments. 

El AI’s portion of traffic between 
the United States and Israel has 
dropped to less than 40 percent 
from a high of almost 80 percent 
when Pan American and TWA 
were the only U.S. international 
airlines. 

El AI is essential io Israel’s na- 
tional security, the Israelis report- 
edly argued, noting that during the 
Gulf War it was the only airline to 
continue service between ibe Unit- 
ed States and Israel. 

During that same war. however. 
World was ferrying thousands of 
U.S. troops and tons of supplies to 
Saudi Arabia, continuing a role it 
has played since the Korean War as 
a major supplier of contract air 
services to the Pentagon. 

Since the cad of the Cold War 
and the downsizing of (he U.S. mil- 
itary, however, that part of World’s 
business has been less certain and 
World officials say expansion inlo 
scheduled international business is 
essential for its survival. 


M 

BlancpaiN 


Key Hon#* Rato 






* t 


SEE- «« 
SSL IS 

tfirfow 


SfK 


VCU 
uar 

OMdiaemea 
ina..i»iuw 


. rrett 

i IL . _ AMsterxSom LOPden, Hem Y ua-Mteo otad; NA-: i*f 

QgOngt m AWW®"* ..uniison<*>-- fL0 - n * 

■ ' ' 

Smp DoOV VftlU*® wS C^TT-cr WJ 

0HMT0OHW cgrttocr w MttPW# “■ 

Ptfl ora***- «.z«**d* « 

hoc*.*** 

"T3S. £S 

********* SMB* 

MB *»-«*■ 


16115 


17*8 

155» 


May 12 

Currency P"** 
5.a».nwtf 
S.Kor.1*" *** 

SMAknne TJSS 
ToMOl* 

SK.S 

ebejs 


u*MBS 

pneoMtrala 

Primnd 

M W * CD* 
CMBm- pwWq wp 

i-rear ru— re mu 
tngrTPWwi 

WW Trea»»rr» M. 
W-yeorTrtnsarrnMe 
Shear Tfenirr bong 


Clew Prev. 

150 106 


MtMn 


« k 
3* 


MS 


M2 

4.12 

5.14 

6JJ9 

4M 

7U3 

7J4 

756 


jabs jn^niHLy etfiWUer to BtfrenM 3.14 


4J5 

451 

551 

4.17 

752 

7tt 

1J3 

TM 

113 


CsUmnrv 
hnodffi ferttreanfe 
3-nientfa tafertaik 
htertak 
»worB«t 


54IM 


m 

*gfiyiV 


emrener 


tM«r 

xxm 

156*3 


cwSSaBW 

jopotmanm 


*4* 

1JB36 

10*27 


May 12 
tun UW 
TJ8S3 US'* 
10*01 KW* 


Odltnoo er 

aasassss 

f jl lfl flm BWbWH 

H-yir Mwifimnnl bond 


2J» 

2h 

2U 

2W 

4jn 


m 

m 

» 

2* 

130 

4m 


tatamotm rate 
Celt moon 
l-maefl) (otarboek 
^nentb iniBrtank 
4 hbboIIi MertHk 
NHnwOAT 
Sources: Reuters, BleomOero. Merrill 
Lyncb. Bank ot Tokyo. Comntenbonk 
taRMl Monfesu CrMft Lvonnois. 


Stt 

5<+ 


*v- 

s*. 

5^ 

5Mi 

5V. 

5* 

5». 

aJ4 

03 

540 

5M 

Clsd 

SV. 

— 

5 *v» 

— 

Sv» 

— 

5Vj 

— 

&.« 


Officials at the Transportation 
Department said the)’ believe the 
air treaty between the United 
States and Israel supports World's 
request for three flights a week be- 
tween New York and Tel Aviv. 


Gold 


" 7 --.-, . 


IS! wS 

1 * W ” YSrt 1 mnutterdote ItaHor# 

'S^jSsrJg^ ssS!imm 

-XS£S?SSGS s ” t ~ m ~ 


s s sss z 

LomDWdf** 

canaum* * 

hbob 

JSSffiS 

IMW*** 


6J» 

CM 


MO 

MS 

5V, 

5.10 

505 

MS 


zonal 

Loadon 
Hew York 


AJA. 

PM. 

Clt'ge 


Closed 


382.15 

37955 

— us 

MOM 

3Xt» 

— 1.90 

’ounce. 

London official fir- 


Worid has asked for sanctions 
against Israel, an issue that would 
have to be discussed firsi between 
the Transportation and State De- 
partments and ultimately at the 
White House, given the foreign pol- 
icy considerations involved. 

World has lured Syloa de Leon 
of Akin Gump Strauss Hauer and 
Feld to lobbv on its behalf. 


bmiZurktoand Non York openHw ana ctos- 
inaprleaft New York Come* 

Source .-Reuters. 


“ft would send an unfortunate 
message to our other aviation trad- 
ing partners if we would not take- 
action to enforce the terms nf this 
agreement.'' Ms. de Leon .'•aid. 



TtouittBon 


Since 1735 there has 

NEVER BEEN A QUARTZ BlANCPAIN WATCH. 

And there never will be. 


LUIGI VERGA 


S-AS. 

Df VALERIO VERGA & C. - OROLOGEFUA 


wa DosatH. 3 - 201 23 Mfcrno (inMw Via MbzzW) 
Td. 02/8036521 - C.T. e P. 1VA 04370140166 


IP 

.es 

ay 

ire 


tion status to C hina last May, Mr. 
Clinton said it would not be re- 
newed in 1994 without “overall sig- 
nificant progress” rat human rights 
and other issues. 

Some UJ3. lawmakers and hu- 
man rights organizations are raging 
the president not to renew those 
benefits across the board because 
Beijing’s human rights perfor- 
mance has been patchy. 

Instead, they advocate renewing 
most-favored-nation status for 
China’s private-sector exports 
while withholding it for selected 
exports from state-owned or mili- 
tary-owned factories. 

Analysts in Washington said 
that such a move might appeal to 
Mr. Clinton as a compro mise that 
would not completely disrupt eco- 
nomic ties with China but would 
allow him to maintain his election 
campaign pledge to use trade as a 
I ever for better h uman rights. 

However, Miss Wu said that 
China insisted that it should retain 
most-favored-nation status “with 
no strings attached.” 

Asked whether China would ro- 


es 

a- 

ng 


so 

de 

re- 


ef 

ty 


j. * 
“ e 

* * 

K 1- 

_ e 

4G 

"a. 


«, - 
i 


-star 
uilas 
xi a 
ibes. 
1 74 


a • 

anca, 

Inin 

inert 

Tel: 


3 


as. 

IAIN 

itne I 

1136 J 


(S 


BK8 

UTS 


98? 

act 

ilt? 

LE 

to! 


Jpe, 

asia 

al 


:d 

an 


.*phc 
i m } 

moa- 

□pah 


td. 

net, 

es. 


fcl 

% 

UMU 

» 


J 








Dollar Edges Down 
Amid Uncertainty 


Vm AnDpemd Ftew 


Compiled ty Our Staff Frrwn Dispatcha ZoclC Wedd said ibe inflation data 

NEW YORK — The dollar "doesn'l really change anything for 
edged lower against other major the market," with most now looking 
currencies on Thursday, held in a for the next FOMC meeting on 
□arrow range by conflicting senli- Tuesday to signal a rise of 25 basis 
men Is about the U.S. economy. points in the federal funds rate and a 

The dollar closed Thursday at rise of 50 basis points in the discount 

1.6663 Deutsche marks, down rale. 

- - Dealers said that the dollar had 
Foreign Exchange also benefited from comments by 

■ Robert Party, a Federal Reserve 

slightly from 1.6683 DM on System governor, who indicated 


Foreign Exchange 


Wednesday, and at 104.225 yen. 
down from 1042150 yen. 

Nick Stamenkovich. a currency 
analvst at DfCB International, said 
that even though the U.S. producer 


that interest rates would have to be 
tightened in order to move Fed 
policy to a neutral stance. 

The pound maintained its firm 
tone late in the session, under- 


price index report Tor April, show- pinned by news of a narrower- 
mg falling wholesale prices, had Brilish ^ deHcrt 

i m .nllnli i«n ro,i In -i ni^irtU _ ■ 



Dow Jones Averages 


EUROPEAN FUTURES 


Metals 


Indus 3451 Oi J+H.14 34S».(m J*£f44 - 23.80 
Trans 1571 18 UWJ7 1!*T« 1J7XJ9 -574 
Ulil 179.48 18044 177 04 1 77.74 —0.7? 


□ose PwitaJ 

BIO AW BIO Ask 
ALUMINUM (Hlsti Grotto) 

Dollars per metric Ion 

Sot 1201*0 iaru» imsa muo 

Forward 1 33.00 1W.00 imso 132U0 

COPPER CATHODES IHWl Grade) 

Dollars oer ^ jJiijo 

Forward 2118.00 21)54)0 2109JH 211030 

LEAD 

Sar^tSSroMi «« mm 

Forworcf 4300 47400 48100 48100 


Comp 1269.53 1172 72 i:*JJ3 1348.95 


Standard & Poor’s indexes 


industrials 
Tronsp. 
Utilities 
Flown ce 
SP sto 
SP too 


High Low Clow Ch'ge Forward 

520J4 FUJI 51931 + 3J0 k|j£,rep 

38 Ml ITiM 380.02 + 13* S£t 

150.44 1416? 147.22 +033 

4341 4127 <3.33 -104 £££&? 

u,u .11 .a urn 1.^ 


Jan NT. N.T. N.T. iSji +1 

Feb N.T. N.T. N.T. 1X92 + 1 

EsI. volume: 51427 . (Wm 'nr. 173AM 




Stock Indexes 


444 AS MM? 443.75 1-124 
412.90 40933 411J2 -4-13* 


NYSE Indexes 


Dalian per metric ion „ 

Si 5850J® 5840.00 574030 575030 

Forworn 5730.00 594 030 5KC.D0 58300 

TIN 

Dollars per metric tan 

SkH 538000 538500 538000 STOOD 

Forward W4M0 SuSM 544000 545000 


9 b LOW unt seme are* MORRISTOWN, New Jersey (Bloomberg) — ABiedSSgnaj 
T. n.t, n.t. 1171 + 8 i 7 Thuraday it plans to buy Textron lnc.’s Lycoming turbine tmSotS' : 
(Si.nrl'&i 1 ” sion. a maker of engines for smallerjct aircrafi rOTW75 ln^on _ 

• assumed liabilities. ■..•/rirTSwiv 

Stock Indexes Shares of both companies rose following the annonroaK^^:^': 

iffei ^ cw “ OKWW Son^Sect to a fmaUgwaacnt mA reguliio^^^^^'; 
•gj 1 , t51 „ +m , targeted for therad of June, spoke^en far ttecon^tesaiiLw^^ 
jISj 3 t 45 j 31670 + 1 W a Bossidv. the AfliedSignal chairman, said 0)e purchase 
& ttii.-si«s. + forward in the growth of our aerospace business.^. - - 
vs ckuco Thurxtay. AHiedSignal stock rose $1375 to $35,625 a share, while Tcuuȣ*+r 

Motif, Assoctotcd prns. (n c, n fu<7( • • 

) Financial Futures ExcAonuw, $ 1.25 10 <■ .. 




HKUi Low CWJO Change 
FT5E 1MILIFFE1 
caper lose* point 

jon 31580 31100 31510 +180 

31453 31453 3167J +180 

oS NT N.T. UWt +180 

ESI. volume; 13M. QP Wlfll.: 53035, 
rheMnM^oscioainlTfwrstAty. 

Sources: Motif, Associated Press. 

London inti FTnondto Futures Exehentw, 
Inti Petroleum Exdvmoc, 






•_. • - v. -~- 


ZINC ISpedal High Grade! 
Dollars per metric ton 


Compas-le 

industrials 

Trcm» 

Ulilifv 

Finance 


244.1; 244.51 24535 -104 
304 74 301 9» 30305 - UP 

341.11 239 J1 139 W —0.01 

JO I .25 190.W 10*30 -0,74 
708.15 204.9* 307.10 —O il 


Dollars per metric Ion 

Spot 95000 95100 946.50 947.50 

Forward 97100 97200 969.00 96900 


Dividends 


Per Amt Pay Roc 
IRREGULAR 


Financial 


NASDAQ [Indexes 


mg failing wholesale prices, had 
calmed inflation fears to a degree, 
this was doi enough to slop the 
Federal Reserve Board from mov- 
ing to tighten U.S. policy in (be 
short term. Such a move would 
have positive implications for the 
dollar. 


in February, dealers said. The cur- 
rency was quoted at JI.W8. up 
from S 1.4963 on Wednesday. 

Mr. Stamenkovich said that al- 
though the headline deficit was low- 
er than many had been expecting. 


NYSE Most Actives 


Composite 

Industrials 

Berks 

Insurance 

Rnrjtve 

TrcrtSP 


751.91 719.20 719.Hl -ZIO 
747.08 r+3.74 743.74 -1.70 
7P2_54 700.10 7DI.lt -2.16 
890.65 886.63 884.90 -270 
907.70 904.97 906313 -212 
711.82 708.78 710J7 -XIJ 


He Uid be expected the dollar to f? .underlying performance in the 


“trade around current levels" until 
the meeting of the Fed's policy- 
setting Open Market Committee. 

“Bonds jumped and that helped 
the dollar,” said Kevin Lawrie, for- 


Bribsh economy remained weak. 

News of the death of John Smith, 
the opposition Labor Party leader, 
also provided suppen for sterling 
because it was perceived as deflect- 



VoL 

High 

Low 

Lost 

Chft. 

PhlVAr 

54578 

SOW 

48W 

SOW 

-71* 

*DT 

41 101 

9W 

aw 

9W 

— 

StWTCh 

369J0 

29*. 

25W 

28 W 

-1 w B 

TeiMeji 

15382 

Saw 

55W 

55W 

-1 

MargFin 

32J41 

74W 

24 W 

24V. 

-1J4 

RJH Nab 

58842 

4 W 

Ste 

4 

- ’% 

OtAOi 

27504 

S»fe 

55W 

SS’1 

— 3^: 

EMC s 

75440 

isw 

Ift+M 

17 

— V; 

RooBoio 

2394* 

*■■• 

* 

4W 

„ 

Mdortas 

25981 

45S> 

46W 

44W 

, ’ 11 * 

GnMrtr 

21349 

55 

54W 

54W 

■* ■ 

ATXT 

1803A 

5JW 

53W 

52 W 


Mere* 

17923 

30 W 

30 

sow 

- 1 a 

Oiryslr 

17157 

44 W 

J5W 

ASW 


Jonr'Jn 

17075 

43W 

42 

42" » 

— 1 * 


AMEX Stock andex 


High Low uni OlS- 
433.93 33290 433 JS -0.18 


High Low Close Cnange 
3-MONTH STERLING ILIFFEJ 
tsMjtao - i>ts of in oct 

Jun 94.70 9446 94.70 +0J1I 

5eo 94 4} 94J4 94AJ +0-05 

Dec 93.93 93J0 93.93 +0J» 

Mgr 9138 93X1 TU7 +<UR 

Jun 9284 72Jfl 92B4 + 1X08 

Sep 9233 92J) 9235 +007 

D-t 91^9 91.76 91.90 +007 

MOT 91i4 91^58 91 JS +006 

JuD 91j1 91.21 9M3 +006 

Sen 91.15 9ijj4 97.16 +0.06 

Dec »I4» 9094 91.02 +OJO 

Mar WX86 90.74 9036 +0.01 

Est. volume: 544)89. Ooea mi.: 500.151 
3-MONTH EURODOLLARS (LIFFE) 
tl million - pts of 100 get 


AfWKJtwi Fund 
Ener» SA ADR 
LordAbb BdDrt Tr 
LorOAbb Grv»4lna> 
PalnW Prm HI I nan 
PhgoaU Resource 


_ JIB 5-13 6-1 

b .1203 5-19 6-16 | 

, JOS 6-6 6-15 

_ .102 MO 5-27 

. .102 MO 5-27 

. JD5 6-15 6-30 I 


Chemical to Acquire 

NEW YORK (Bloomberg) —Chemical Banking Corp. aid.Tbai^ '' 
it has agreed to acquire Margareiten Financial Corp. in a $330 
tninsacuon that will make it the founh-laigest lender m the tm&fo?-' 


'k>': 


Chemical said it agreed to pay $25 a share for Perth AmWjw.^ 
Jersey-based Margarettea, which said last month it was talking JS -• 

noim- Fnftnnnl inctiflrtirmc ahonf hrinp JKVlllrrv- ; 


t+oponu anruuni several major finandal institutions about being acquired. •! ' > 

Horion of inc .6% mi mo Mar^retten, which has 89 mon&agp oflices in 25 states, is thef^J^ 
reverse stock split major mortgage lender purchased this year by a banking ccr t y rf %/ v , • 

Frreport ivicMoroa I pc: 1 snare ol McMomi Lenders OTC Seddng acquirers 23 the home-loan buanfNg ha* fjpZ, 1 ;, 
cm & Gas w each 10 nwras of Freeport , . ; n .«K, r,iKno r~- • 


Dow Jones Bond Averages 


Jun 

9685 

94£4 

9S01 

Sep 

N.T. 

N.T. 

9434 

Dec 

9147 

93A4 

9X85 

Mar 

9X« 

91*3 

93 AJ 

Jun 

N.T. 

N.T. 

9X37 

Sep 

N.T. 

N.T. 

9114 


t SSS MB commun: 2 sftores of Ml COM Comfflun 
+ JH3 tor B9«V 3 sMJTM WW. 

L STOCK SPLIT 

Rond Capital; 5 tor 4 split. , „ 

Versor Inc: i 9w« ol Samta Can> fee each 
+ 0.0a shore ncM. 

INCREASED 

4-M? Newell Co <3 ^0 5-20 64 


because of rising interest rates and falling demand for mortgages.. 


Procter & Gamble Forms Risk GroM 

<w»/-nnT,-n w.i -i , n .... P. r\ 1 . . r*_ , =7: £■'. 


20 Bonds 
10 [Ullllles 
10 Indimrhils 


csi. volume: 383. Open ml.: 1,817. 
3-MONTH EUROMARKS (LIFFE) 
DM1 million - Pta of 100 pet 


CORRECTION 


Loc Minerals c m 5-18 

c-Amaunt oovable In U.S. hinds. 


eign exchange manager at Mellon fag attention from the ruling Con- 
Bank fa Pittsburgh. “Were seeing servadve Party ahead of the Europe- 


NASDA6 Most Actives 


NYSE Diary 


some capital flow back into Trea- an elections fa early June, he said. 


High Low Lost 


The U.S. currency has been pres- 
ired in recent days by falling 


sured in recent days by falling 
Treasury bond prices, which have 
caused capital to flow away from 
the United Stales. 

Mark CapVeion of Barclays de 


The dollar closed at 5.7155 |§£™ 
French francs, down slightly from pinoos 
a close on Wednesday at 5.7210 ptHOTtum 
francs, and it was trading little p^r^s 
changed from Wednesday levels at 
1.4243 Swiss francs. c*™- 1 


iss francs. ( 

lAfX. Bloomberg. AFP ) 


:y| MARKETS: Calm on Inflation 


46 V. 

44W 

44W 


70 V, 

J7V, 

29 

•m. 

I4>m 

13 

1JV, 


60 

58V, 

SffW 

>* K 

14V. 

IJ 

13”i. 

— '^ri 

22 W 

21 Vi 

21 W 


I0W 

0*j 

ION 

+ J r .*i 

15'.. 

14', 

IS 


14W 

ISW 

15V. 

— r -li 

4* 

64 W 

47 


3»W 

30V. 

31W 


9S^u 

93 W 

94 Vi 


27v„ 

2IW 

73 W 

- *-li 

19W 

18W 

10*. 

V|a 

45 W 

44 W 

4i'-4 

nV/k 


Act^tinced 
Doained 
UncIWMea 
Tata Issues 
New Highs 

New Lows 


1205 672 

981 1550 

644 602 

2SJ0 2824 
24 24 

133 207 


Jun 

Sw 

0X11 

9535 

0X07 

9S39 

s 

Dec 

9534 

9533 

0X24 

Mar 

95.15 

?5.10 

05.13 

Jun 

96B9 

96B4 

?,£9 

Sep 

944* 

96*0 

04M 

Dec 

94 M 

9640 

94A3 

Mar 

962o 

9420 

9625 

Jun 

04 277 

9403 

96(77 

Sea 

9XB8 

9XB3 

93 JP 

Dec 

•X21 

9X69 

oj_n 

Mar 

N.T. 

N.T. 

9X5* 


Shorelino Fin n 


Albany Inti A&B 


Barnwell Indus 
Boston Bancorp 
BVntxflev REIT 


Esl. volume: 93460. Open Inf.: 14W3J74.' CoScS 'coro^ ' 

LONG GILT (LIFFE! Dow Ovemknl 

EHUWB - PTS A 32»dS Of IN pci Fsf NlfioSvos Sk 

Jun 104-12 1KME 10*4)2 4 0-12 SS..^, 

Sep N.T. N.T. ) 03-01 +0-11 

Est. volume: 61766. Open Inf.: 125,942. SSSSnS* i nSSe 

GERMAN GOVERNMENT BUND ILIFFEJ |RT Swerh 

DM 25Q4UQ - pfs Of TOO BCJ 

JUD 95-4B MJ5 95J9 +OJO investors Title 

Sep 9450 94.18 94J7 + 028 Kinetic Concept 

Esi. volume: 67,491. Open InL: 208,109. Lennon Prod 

Modem Com rots 

Partners Pf YM 

Industrials Pol+ner^ifl 1 

HlgB Low Lost Settle Cti'+e S^Hwdffeo' F ' n 

GASOIL (IPE) SdentHIc Atlanta 

UJS. dollars per metric fen-MIs of 100 toot Scllex Lid 


AMEX Diary 


AMEX Most Actives 


Advanced 
Declined 
Unchanged 
Total issues 
New Highs 
New LOWS 


Continued from Page II 


lioa storage and retrieval systems 
said it expected to report its first 
revenue from its long-delayed Ice- 
berg storage system. 

The Gap rose h to 45 '4 after 
reporting a 53 percent gain in firsi- 
quarier earnings. The San Francis- 


U.S. Stocks 


W.* t| CD-based clothing retailer said it 
earned $63 5 million in the quarter 


• r I' on sales of $751.7 nullion. 

•- f t „i rt T.. 


after Lee Jacocca. the former chair- 
man of Chrysler, signed a letter of r«sct 
intent to buy a 9 percent stake in the p"*£o 
Deadwood." South Dakota, compa- 

nv. antes 

Another gaming company. Presi- ctiFst 
dent Riverooat Casinos, gained 2 !a 
to IQYa after Missouri legislators 
approved a bill allowing dice tables — — 
and video slot machines aboard riv- Mari 
erboai casinos on the Missouri and 
Mississippi rivers. 

3DO. the video-gam e-machine 
design company, rose to 16 ^ NoHft " 
after it said its fourth-quarter loss 



VoL 

High 

LOW 

Last 

ais. 

RetSCr 

11031 

IW 

IV. 

1W 

— w 

ChevXtts 

7718 22 W 

20V. 

JIW 

— Vi 

FovolOg 

7370 

4 

3 u 'i. 

3'-» 

— W 

E»dLA 

7362 

IW 

IW 

IV., 


EctioBav 

6076 

IbW 

1DW 

I0W 

— iii 

ante 

5341 

4V. 

4W 

4W 

- W 

ViocB 

4973 

28'/* 

27 W 

77W 

— W 

ClrFfl 

3651 

0W U 

8 V, 

BV. 

— 

ENSCO 

3419 

3*V« 

3W 

3V*. 

+ 'j'U 

IvaxCp 

3313 

17»i 

17W 

|th 



NASDAQ Diary 


O JQB25 6-3 7-1 

Q .15 6-17 6-30 

G 311 S-24 6-7 

Cl A3 fr3 6-17 

G .19 SGI 6-15 
O .16 6-10 6-30 

O -05 6-3 7-1 

O -IS 5-3} 6-15 

O 65 6-30 7-29 

Q .13 5-31 6-15 

Q J13 5-25 6-2 

Q 25 6-10 624 


CINCINNATI (Bloombeig) — Procter &. Gamble Co. is fornumv'.' 
risk-management council in an efFon to avoid a repeat of the.Ta^e .’ 
quart® charge it took to emt complex interest-rate swaps. ” 

The consumer products company said on April 12 that h would t^>L • 
charge of $ 102 million to exit two interest-rate swaps, sayingitWi&a»’ : - 
“batfly burned” in the complex derivatives market • ■* 

P&G’s loss was the largest ever nmorted by a U.S. industrial coqiq%? 
on interest-rate swaps, which typically are used to Bmit exposure torijfe'' . 
such as changes in in tarsi rates. As a result of the misstep, 
quarter earnings fell 4 percent. 


Time Warner Aide Settles With SEC ?; 


Est. yolume: 61766. Odm mt.: 125,943. 
GERMAN GOVERNMENT BUND ILIFFEJ 
DM 2H4B0 - oh of 100 net 
JUD 9148 WJ3 9529 +020 

See 94.90 94.18 9< J7 + 028 

Esl. volume: 67^91. Open InL: 208,109. 


M .US 5-20 
M .12 5-20 


21 5-23 4-1 

.125 5-16 6-15 
-02 0-1 6-15 


Cl JJ37S 5-30 


Industrials 


Sdefittilc Atlanta 
Scile* Ltd 
Sears Roebuck 


.12 M 7-15 
J3S ft-5 8-19 

24 6-30 7-15 

25 6-30 7-15 

21 6-30 7-15 

.01 5-20 5-31 
.10 5-24 66 


NEW YORK (Bloomberg) — Oded Aboodi, a finandal adviser toTane: 
Warner Inc. and its late c hairman. Steven Ross, settled a Securities atf . 
Exchange Commission sah cm Thursday accusing him ol madertnkW _ . 

In a simultaneous lawsuit and sertleraent filed in Manhattan fedend!.' 
court, the SEC alleged that Mr. Aboodi illegally traded in Time Warns-:, 
stock in 1991 using confidential information he obtained as- an imot,': 
meat banker for the media giant. - 

Under the accord, Mr. Aboodi agreed to pay a total of 59>]^' : - - 
covering trading losses he averted, and interest and penalties. The-Q.'* : - 
year-old tax specialist neither admitted nor denied wrongdoing ' 


Advanced 
O+dineU 
UncnorHTed 
Total issues 
New Hiflns 
New Lows 


Spot Conwnodltles 


15450 15225 154 JO Ead. — Sears PoeSurt 

15225 151.00 152.00 152.00 +OJ0 St I ww Late 

152.75 151.73 152.75 15175 +(L75 TompklrM CeunlV 

154X0 1SUW 15175 15*25 +125 Troalcnlnc 

J£J> 154.75 iiijo 155.75 +a/s 7,„2 > p“}25 rS 
1K.M 157 J-J 157 JO I5BJ0 +025 

N.T. N.T, N.T. 160 no + 1 an Nil 

161J0 1 60 JO I4IJ0 lei JO +1.00 

161.00 16025 161 JH) 161J0 +1JS) Ceniin dTenni 

N.T. N.T. NT. 159 JO +025 ' „_ LIIJL M 

N.T. N.T. N.T. 1SLQ0 + flJQ Kmeer Or imeren 


B3 5-25 66 

25 6-1 6-15 

M 5-24 6-7 

10 6-10 630 
H25 6-1 6-15 

A3 7-13 7-28 


« Exxon to Sell Calloway Chemical Co; 


Market Sales 


Est. volume: 14269 . Open inf. 104.270 



Today 

Prev. 


4:80 

cons. 

NYSE 

27X71 

338*9 

Amen 

1X51 

22-52 

Nasdpo 

24535 

312.28 

In mil Hans. 




Ij: *: Great Lakes Chemical lost 3 x h to narrowed as the company took in 
SU 55 Vi in active trading. An analyst at revenue from licensing fees. 

5 Lehman Brothers reduced her Au Bon Pain advanced V'k to 


Camnxxfitv 
i Aluminum, lb 
Coffee, Broi. U 
Concer dcclrolytlc lb 
iron FOB, Ion 
Lead, lb 
Sliver, froyar 
Steel l scram, ran 
Tin. lb 
Zinc lb 


BRENT CRUDE OIL <(PEI 

UJ. (Jailors per barrel-lots of UNO barrels 


101 

0.97 

1 Jun 

14-50 

14.04 

1043 

1444 

+035 

213.00 

21X00 

JOl 

1625 

1X«0 

14.18 

161* 

+ 032 

034 

02M 

1 Aua 

1403 

1X80 

160) 

1607 

+ DJ9 

13733 

5435 

Sea 

14J» 

1X77 

1400 

1X» 

+-0J5 
+ 032 

137X3 

oa 

1X95 

15.71 

15.95 

14A39 

14732 

NOV 

1X90 

1X73 

1X90 

1X90 

+ OI7 

04507 

0.6568 

Dec 

1588 

1X71 

1X88 

1X90 

+ XI7 


Ccniip alTcnDjs or secBritiet. fla social 
scmcer or imams Id real mats pubTnbed in 
tfui neufpipa are dm authorized in cauin 
jarisdiciHXK in ubidi the bnanalioaal Herald 
Tribtaic is distribaioL iocfedinj ibe United 
Smu <?r America, and da mi conMifsie 
offeriDfs of ucnritiet. services or im crests h 
these jurisdictions. The Imenntional Herald 
Tribune jtunues. no responsibilily rtstjcwa 
far any shrnKemaus for uderingt of zdj kind. 


HOUSTON (Bloomberg) — Exxon Corp.’s Exxon Chemical Co. , 
division said Thursday it signed a memorandum of understanding to *df 
its Callaway Chemical Co. unit to Vulcan Materials Co. ' .>■ ■ " t- - 

Terms of the sale, targeted for completion in July, were not atmntm^ .- . 
Vulcan's chemical unit also will buy Comcor Chemicals Ltd. from 
Imperial Oil Ltd, a 70 percent-owned’ subsidiary of Exxon Carp.~ ' ' 
Callaway and Comcor, which supply process aids to industries suchas ^ 
pulp and paper makers, together had revenue of about S90 tmTjr titrV 
1993. Exxon Chemical had sales of S10 billion. For Exxoii€hfeaml> 


toonis Sunin 


earnings estimate for the company. I 8 ti on a buy recommendation 
£ ^ Borland International fell IVa to from Smith Barney Shearson after 
i «3 10 in heavy over-the-counter trad- it reported an increase in fiist- 
« ing after the personal computer quarter net income. 

B ; S y and software company said it Champion Parts, the maker of 
Sij £ would delay releasing results for replacement parts for cars, trucks 
|„ die fourth quaner of its financial and farm equipment, dropped H to 
s ' y year- 3^ after posting a loss for the first 

i >a re Telefonos de Mexico's American quarter. 

4 depositary receipts rose l to 55 7 /a in (AP, Bloomberg I 

Si: 1J step with” gains in Mexico's Bolsa — — 

index. The Mexican telephone 

r company is a key component of the far investment information 
Jj Bolsa, which gained 2.52 percent ^ WE money REPORT 

ShS 1 “nH, D _ every Saturday in rfie tKT 

>3 Full House Resorts rose 5 < to 5 -s 7 


GERMANS: Bond Traders Question Need for Sharp Interest Rale Cuts 

Continued Irom Page 1 aggregate demand and inflation seen as politically biased." Mr. from Bonn and membership in Ih 


Champion Parts, the maker of 
replacement parts for cars, trucks 
and farm equipment, dropped to 
3H after posting a loss for the first 
quarter. 

(AP. Bloomberg) 


for investment mfeyrnction 

Reod THE MONEY REPORT 
every Saturday in rfie tHT 


men is have to sink before investors 
become convinced of the benefits 
of shifting their funds into longer' 
term, higher-yielding instruments, 
Mr. Tbumann and other econo- 
mists said. 

“It could work," said Mr. Thu- 
mann. referring to the desired shift 
of funds toward the long end of the 
investment spectrum. 'As far as 
monetary capital formation goes, it 
should work. But there may be oth- 
er factors that in the end result in 


aggregate demand and inflation seen as politically biased," Mr. 
have not changed significantly, ac- West said. “They also might be 
cording to our information." Mr. reluctant to cut the discount rate 
Tietmever said at a news confer- ahead of a possible change in gov- 
ern* in April. The Bundesbank will eminent because of the fiscal un- 
not abandon M-3 at its midyear certainty involved." 
monetary review, he said. Analysis said Mr. Tielmeyer's 

But Mr. Tieimcyer also said the political allegiance to Bonn was ir- 
Bundesbank had "always been relevant. He'is a member of Chan- 
pragmatic" about monetary target- cellor Helmut Kohl’s Christian 
ing and had never tried to keep M-3 Democratic Union and a former 
growth on track on a month-io- official of the German Finance 


from Bonn and membership in the 
CDU influence his decision-mak- 
ing are plain wrong." said Mr. Thu- 
raann, who once worked for Mr. 
Tietmeyer at the Finance Ministry. 

“As far as I know. Mr. Tie't- 
owyer's views on inflation and 


price stability aren't any different 
from Mr, Schlesinaer's." he said. 


Bundesbank s credibility if it over- 
shot its target range for M-3 growth 
by a wide margin, analysis said, 
because the central bank has re- 


. ^ m i ■— — ■ — ' higher M-3 growth.” 

M ' rvm k T\n ft would a minor disaster for the 

1 1 TRADE: China Vows to Retaliate SS^iJSSSliSS 

f!i C^rffranhgeXI gain renewal of its trading benefits. EL*™' h 

M’ - taiiate against U.S. trade and in- Only about 2 percent of {JS . iIT 

n-l gvestmeni if Mr. Clinton decided lo exports go to China while about -i n 

fe ■) withdraw the benefits across the one third of China's exports are to M_3 metWtcnn «na- 
i.^: li board or partially, she replied: the United States. v, , 

^—/Undoubtedly. This is a question Nonetheless, the U.S. business ilf 
IHiof equality." community "does not assume that « 

fif, l Miss Wu said China regarded most-favored-nation status will be 

si* ^extension of most-favored-nation continued or at least does not take of the year. In March, 1 ! 

|status as “the core part" of its busi- it for granted," said Robert A. anDuaiaed rale of 

S-: tiness and trade ties with the United Kapp, president of the U.S.-Chma . D . 

jj'j ^States. Business Counci]. , ^wides- 


I'i ^Stales. 

« ' >: Economic development in China 


J J 5 “ C ^ tiveS . S ? dl ^ lanum ' centrai bank will continue to re- that inflation would fall to 2 J per- gT 
i* i<favored-nalion status. Mils Wu Sard annual M-3 averages as a rrii- cent soon and even tuaUy as low as eta 


non. 

The Bundesbank has committed 
itself to reining in M-3 growth to a 
target range of 4 to b percent over 
the course of the year. In March, it 
expanded at an annualized rate of 
15.4 percent. 

Hans Tietmeyer, the Bundes- 
bank president, has said that the 


month basis. 

Many analysts, meanwhile, dis- 
miss the current market jitters , 
about the Bundesbank's credibility 
as largely superficial 

Jeffrey West, an analyst at 
I.D.EA. Ltd. in London, attribut- 
ed the recent rise in German bond 
yields to a rise in yields on U.S. 
Treasury bonds and said he did not 
consider inflation in Germany a 
problem. “1 don’t think cutting 50 
basis points now is going to com- 
promise inflation two years down 
the track," he said. 

Inflation has fallen to about 3 
percent in April from as much as 5 
percent at its peak after German 
reunification. Mr. West predicted 


Ministry. 

"These who think his coming 


from Mr. Schlesinger’s," he said. 

Because of Germany's historical- 
ly low inflation and’ its political 
independence, the Bundesbank has 
customarily enjoyed a great deal of 
esteem in the country. 


1993. Exxon Chemical had sales of $10 billion. For Exxoo^Cheskal ~ 
which in Novonber said it might sdJ Callaway, the transaction ififtoctra ! ■ 
effort to concentrate on its core petrochemicals business.’ ; ;■ '? [jV ■ ' 

Loral Corp. Posts Earnings IncreaseP ^ 

NEW YORK (AP) — Loral Corp n the electronics company speriaBzr ~ 
ing in military equipment, said Thursday its earnings morethan dcuEfed ' 
in its latest quarter, compared with the corresponding period last year.’-' 
due partially to the Federal Systems unit it bought from international 
Business Machines Corp. ■ ;■ .: 1 S; . . 

Loral earned $84.3 million, or $1 per share, on sales of $1.42 hpaa iai 
the quarter, the fourth in Loral’s fiscal year. A year ago, tfae aunpony, . 
earned $39.6 million, or 48 cents per share, on sales of $974:1 jrauoh, : 

The Federal Systems business added $7.7 nullioo to the fourth-quarter ' 
profit. A year ago, the profit was reduced by $17.8 million to pay down' 
debt. The Federal Systems business handles large-scale computing chores - 
for the Department of Defense and other parts of the federal govousait. > 


For the Record 


Ford Motor Co. said Thursday that it plans to export about 25JQQQ 
U_S.~madc cars and trucks to Mexico in 1994. (Bhtmfag ) ' 


y») s Ckii-.-is 


5««scti Season 
hhaft Lew 


Low Owe Ow Op.Wf 


Swoon Season 
High Low 


Open Hah Low Case CM OdlW - 


Vic Associated Presi 


9.4200 M 1105 1117 11.98 1104 —0.07 38J09 


Season Season 
HSBh Low 


Open ►Son Low Close aw opjnt 


Grains 


ji-; jjnany would be “happy to fill the 
sf: .'vacuum" left by the United States. 
Some analysts believe China will 
jfmake enough human rights ges- 
{?> t jurcs before the June 3 deadline to 


China depend on preservation of 
the most-favored-nation benefits. 

In 1994, China is scheduled to 
buy 36 jetliners from Boeing worth 
several billion dollars. 


rials have explained the recent rap- 
id expansion in M-3 as a statistical 
aberration with little long-term rel- 
evance. 

“The long-term relationships be- 
tween money supply, interest rates. 


Moreover, the Bundesbank has 
demonstrated political agility by 
cutting its two leading interest rates 
well before federal elections in Oc- 
tober, he said. 

“A discount rate then could be 1 


WHEAT ICBOT) 5.0006m ir*nimurn~ doJior* pjr bu&nel 
3J2 3.00 May 94 114 lit 11B -OJBV, )04 

3J* 2.06 Jul04 3JH>i 325 12I’j 322 . CUJO'm 27257 

IST 1 * Jun Sen 94 ]J6'v 1?0 126 -OJOVi 6jt» 

165 309 Dec «4 134 3J0 134 13*' , -0.00', 7.643 

336"; 327 Mar95 2 40^ 14T'i 3J9 320y,— DJJI 5*4 

145 3.14TMlav9S 32T5— 04U 50 

II' _322 123-4 121 321 -OJB'i 121 

EasAes 9jwi w«rs.saiM 7.793 

W«T; own irt 42.BSJ oil D? 

WHEAT IKDOT) UOatM ritiiirun- tHtvi w butfiti 
3-7« W 228 Mnv94 3JJ -OOIW 47 

iiS 2W JUI04 125 32’',. Iff) 324 -0.00*6 13.791 

M5W J®???? 0 ** IMV* 125' v 126 — ttWi 1.815 

;L13l^ 134 132 'i, — 0.01*4 «J1 

153V, 125 Mar 95 134)6—0 01'.* 4T 

^4 W1WMav9S 32946 —0.01 '+ 17 

124W 122V: JulW 1236,— 0.0 1‘« 1! 

ESL soles HA. w«j s. soles 1,140 * 

WM’s aoen ir» 23.543 

CORN ICBOT) SAWDMnminiuin-aDBmrwbiH'ttH 
3.l»w 12JV»Mov94 2.58 ’m 161 238'.) J60'-« <0.02Vi 3.744 

1UV: Wl Ju194 238*9 267'« 2-5814 24IH -003 1ZUI0 

a«‘.i 74 3-50P. 2341* 2-50V, 234 ,D03V,33,M2 

1736, U6 Vi Doc 94 144V1 2M 244V, 2X7’<i -O.OJV, 75.6T) 

179»> Z4BW Mar 05 152'/« Z5J16 232 '/< 2JI rllaih 8.263 

233 153 V4JV05 258 229 lie 239 ,oS" 974 

ISJ'u 224 Jul*S 22»'^ 26057 2J7J7 ?M +0JD 22 14 

LSli 143 D«95 2.44 247V. itjv, 247^,0.01*4 MB 

Esi.iam 4o.o«w wmiswt jsm 

Wea's ewen lm 263.140 up 730 

SOYBEANS (COOT) 5.000 txj rnVwrMj^y. ao4on. prt 

727 5 0?>a Mav 04 668V1 6^4 640*6 6JT* -Ojn'T 3291 

720 S.94V. JUI94 6 MV, 671 >, 6465, 648 Vi ► 031V. #4353 

7J5 628 Aug 94 661 665': 640*, 642' ■« - C01 '■» 12926 


I1J0 J.17MO-95 1148 11.74 1142 1140 17,»« 

} 69 llig 1146 1140 1144 *iSA 2295 

1120 1027 Jul95 1142 >144 1129 1162 -ffliW 1.264 

I’S '0-£Oa« 1125 11J5 1125 1129 *0.04 503 

11.35 1048 Mor 9* 126 ,6 0* 48 

Esl.wtw KA. W,ldB 33466 
Wetfs open ini II5J84 up 2248 

OpCQA (NCSfcJ lOmovc nva- Inrtn 

1365 999JUI94 1253 1390 12S2 1208 -41 36493 

1 ™ 1378 1314 1D4 wn -40 15.1*0 

I 1189 1047 Dec W 1313 1350 1111 1347 +41 9443 

1383 1077 Mar <E 1347 1375 1347 137B ,41 10434 

1400 I 078MOV9S 1235 1342 1235 1275 + 53 « 

1«D 1735 Jut 95 1409 ,41 : m 

1350 1265 Sep 95 1440 ,41 546 

IS 1445 1445 1445 Wi 441 ro 

1408 USOMa-n 1504 +41 3 

l- 1 ® _ 9380 1380 1380 1407 +41 4,903 

ES. Idles HU77 vntfi setfes 13269 
Woo s own rfir 80210 off 44 
ORANCEJUfCE (NCTN) i MM ta.- anti per 9*. 

135.00 W.BOMovf* 9220 92^0 9071 9125 —I JO 385 

3100 9320 JH 94 9520 9160 9220 9325 -055 13,794 

»i4i S«P 94 97.AI 97A0 9SJB 9SA> ~\S Z5S2 

13100 9640 Nov 94 9920 9920 9625 9725 —125 1236 


94280 91.180 Dec 95 92250 92.980 92740 92270 
94220 90250 Mgr 96 92700 92230 92290 92SM 

Est saws HA. WM6SOIBS 62UN2 
Wetf s J peil inf &792J75 gf> 3V3 


tSf*^UtaerepanS-lMMim0tmwU_ . 

1-Si '■*£! 'J 014 >rW24 12994 +484UDJ 

1 -SSS U 44 S*P» 1 -fiH >•»“ '■ 4H0 128* . iM .UM . 

J-2S TSMDecM 12960 12000 1.4930 12996 .- t64 91 * 

'*»!«*« , -* W0 '■» ro ljBla T-” 04 t* - 

^stiles 14.737 Wed's. sates 12JSQ .. . . .i 

WecTsopenint 418*5 UP 5 • 

CANADIAN DOLLAR ICMBR1 iw Or- MwaiM ‘ 

0 JSS 071 J Jun W 07235 02200 07710 02311 — 17JMBJ 


CANADIAN DOLLAR ICMHl) 

OMM 071 13 Jun 94 07235 07240 117210 02331 


— 120 385 
-0.95 13,794 


9775 Jm 95 loaio 100.40 9720 W25 -Oyi 

1DM0MW95 «C1B3 10020 9925 10025 —125 741 
10325Mav95 10275 —125 23 


JI9.00 10520 Jul 95 

11120 111 J05CP95 

Ea. sales 1200 Wad's, sales 1^04 

Wed's open W 10.97) UP 17 


10275 —125 
10420 —020 


Metals 

HI GRADE OOFFER (NCMX) 25.000 

10770 73.611 Mov 04 4650 99.00 9720 9820 — 0.15 Tjsn 

«J0 74.10 Jui N 98.10 98.10 9110 9870 ^ 


|i;WORLD STOCK MARKETS 

f!',* Agent* taw P-mte Moi 1J 

l? ‘i CteMProv. I OmPn,. I r 


594V; JW 04 666V, 671 >, 6665, 668V, .021 V, 65.353 

628 Aua 94 66! 645‘, 6604 663'i -021', I79J6 

617 Sen 94 637V, 640', 625’i 638' < -Ojq'.j 7.m 

S-iSV, W 4.16 t2 4.1S 619V, ,0.04'.4 MASS 


|p j 

|j; 1 i Hong Kong 

j’ ■ ;U East Asto 3250 


... . . . . . 619V, ,0.04'., 41.49) 

670 613 .kin 95 423'-, 679 477 625S *0-O3>i 4207 

4-3V, 618 Mar 05 4294 623"! 630 423 , -0.00', 1.764 

670 671 Mar 95 421 625 621 6J3V, ,O04W 573 

675 624 JW 95 «J4 627 4 24 IJ5W Tjf 

650‘s SJI'vMcrvVS *J>* 612 60, WI'-, -OOS'., 1.61* 

Ey. sates 40.000 wed's, satas 77977 
Wed’s open i« MI.Mr up BIS 
SOYBEAN MEAL ICBOT) m lorn- or. m 
23720 16460Mav94 187 20 187 JO IB4J0 18660 — flip 1216 

73000 1B52DA4 04 1H7.70 IM 40 1 6660 184 90 —060 37.105 

77700 185.WAU0 94 ll’JO 187.40 18610 18420 -O20l3Xn 

31000 1 8230 Sep 04 18520 I8S20 18270 18190 —0+0 8.519 

70600 180.1000 90 181 JO 181.60 I BO JO IKL?n -440 5.257 

709.00 4J0Dec*4 1 80.70 180 40 IJ9JM 1 70 JO —0+0 16-973 

30000 17920 Jan 95 18020 1«DM IT9J0 I79JD —010 

194.00 181 JD Mar *5 182.00 187.00 10 1 20 MI20 -0 10 l.llt 

193J0 181 20 On 95 IKL50 1B320 18120 181.80 -020 776 

1B820 IC-50A4 0J IB7J0 18220 18720 18720 -Cm 703 

Esl. solos 1 1000 Wed's, sides 1 10? I 

Weds open m tsjut otf 4ii 

SOYBEAN DOL ICBOT) ««o tn- nun .as tn. 


U ■ -lothav PacHIc 


if. (Muna Kong 3625 37 

}i>: J.BIna Light Pwr 40 JO 39.75 


^ : ilK Air Eng. 

1 i MK China Gas 
UK Electric 

'I'l - 1K Land 


HK Shong Hits 
7?;« Hk Telecomm 


Jj)' 'l»»n Dev 

!?■; -araineMDm. 


■ a ( uruinc nwnn. 

rf . }ardlneSlrH« 
’ ! 4 paertaon Maftu- 


•j"* ■HK Press 
5%;j 4telu* 


4E7S 47 
3A5 348 


.j.S.KS^te 8878 " 


: Lon 

<J‘.: Boev Nall 
'Hied Lyons 
rla Wlgsrtns 
i? • .rovii Group 
as Brit Fonts 

!i;. AA 

■ At 

1« anfc Scat land 

; !> areiovs 
v* au 

ET 

w’i twOrcte 

DC Group 


London 



Ctesa Prey. 

1CI 

X2 1 

tw 

inchcaoe 

5J0 


Klngfi suer 

X72 

X73 

Lodcroke 

UW 


Land see 



Lanaru 



Lovno 

I-5J 


Legal Gen Gro 

431 

651 

Lloyds Bank 

MS 


Marks So 

433 

629 

ME PC 

*38 

MS. 

Nall Power 

629 

4.15 

NatWest 

670 

644 




Pearson 

675 


P AO 



Pllhlnaton 

131 

135 

PowerOen 

6A4 

438 

Prudential 

XII 


Pan* Ora 



Reck [ft Col 

6JM 

a75 




Peed lull 



Reuters 

695 


KMC GTOUB 

837 

855 

Rolls Rovce 

138 

1.97 

Rortimn luntt) 

334 

192 

Koval Scot 

<39 

624 

BTZ 



5alnsbu/v 

3.90 

188 

Scat Newcas 

5lS0 

154 

Scat Power 

333 

17* 

Scots 

127 


swern Trent 

530 

682 

Shell 

7*2 


Slehc 

X71 


Smith Neohew 

149 

1.47 

Smitn Kline B 

436 


Smith IWH) 

XD7 

538 

Sun Alliance 

X22 

333 

Tote & Lvie 

638 


Tesco 

232 



1145 


Tomkins 

243 

+44 

TSB Group 

xia 


Unilever 

ia7s 

IQJ2 

UW Bl sculls 

1x3 

3.54 

Vodafone 

5X3 

X28 

war Loan 3W 

4X25 


Wellcome 


X75 

wiuttM-eod 

X72 

177 

WUHcnuHaas 

167 


Willi* Cocroon 

234 

134 

P.T. 3a index :.3<M jo 



I Fertin 
Ferlln risp 
F kdSPA 
Finmeccanica 
Generali 
IFI 

1 DaKem 

ItDlaas 

i Iclmobi Hare 
Med la banco 
Montedison 


?SS Semncnrironfl 
71$ Sbangrlla 

3]2 s,rr * Dart} r 
7190 2240 SIA 

S-PoroLond 


28300 37900 s'Potb Press 

!f&!S3 


Kaiima 

S-S9 Konsal Power 
W 4 394 Kawasaki Sled 
L2 Kirin Brewerv 

,.i Komatsu 

694 Kubota 

Kyocera 


^ m gSHS M,nB SE 

1§ iS Igg-A y MIn e, ,V4 uT; 

*3} Eaultv silver A 0.82 022 


£CA I pH 

j® Wind* 


I Pirelli 
R*5 

RJnescenie 
| Salpem 


1555 1540 UOL 'S-f? Wfsub^l B* 7780 7740 Gfmlro 0M. S2 

vm Mm . ... - . . 1 ' 5 2.10 MltMAIsai Kasel 531 594 Gull Cda fln i-. A It 

5850 5006 ; 22S841 Mitsubishi Elec 635 429 Hees |"ll , 4 J S 

32MO 33400 SSiS! ffiX, .IH ,?25 HemloGId Mines Hn ^ 

ISS ’JS SmSKSSJ '»2 ’422 Hoillnger 14?» 

1M30 HIM M-J,-, Ci 984 790 hSSSsBoy 30V? 30?J 

^ ^ Markets Closed {» ™ ™ "» 

^SS^S Swi mrtcii I, RSffi, a is Eg.*, 

me uin pfl.TC f rtf fnmn* nn^ N mnn KnMYkn oorv MM IB Ifl 


fiTe JS! & Markets Qosed 

Sf | fe J 2 W 0 2500 Slock markels in Utile 1 n*»l«fer> 

stonda 39900 40000 e k IU4I6CIS ID NIVfco Securllle 

s « s *75 59 io most of Europe and in H * 0 ® 0 * 1 £« n),u 

TdTOAssIRISP 34650 39000 C , 1. , r- * Nippon Oil 

mib iod«i . V296 South Africa were USSi" 5,ie*i 

Prevlwa : law Mne+J Th..r<.+... r t g -! ooon Tusen 


9340 — O® 2441 

9LB5 — (L&5 


74.20 All *4 98.28 *890 97 M 9810 +0. 10 43W3 

JfSSSEH 2-’° J 7 - 75 *L55 WOO Lro 

9600 -OIK STO 

76.90 Jon 95 9S.M ~ OJB 

71 00 Feb *5 KM 

7J.Q0 Maw 95 95.40 Oik 2641 

74JBMCV9S 9LK IJb 

7800 JU 95 9460 9460 9L80 9LS5 — 5S 

75J0AUB95 94^5 9465 9465 97J5 ToJI 467 

79. 10 So, 95 94J3 —005 

7170 CW 95 9665 

96J0 — (LOS 188 

HU0OBC95 9190 -OJH 444 

atrtJMflrW ^3RQ — OtK 

WDOApr^ 9590 1*05 


87207 o 7 m wi. 

HSS S^ ™ pec94 07175 07175 07166 07T74 

8/«K SUIQQ Mar 95 ■ DJI® 

QJSZI 86990 Jun 95 L71 20 

0J13B 07138 Sep 95 07VJ7 

“ S 85966 06000 05W9 05996 

Dec M 85993 06004 85993 06013 

Q.fia® 8-5980 Jun 95 oassl 

88310 BJBIONtaFfe 06034 

B8 sales 44.931 Wad'S, setes 57,781 
Wed's open M 121,144 up 513 
j^FAWBeVEW ICMER) tpenA-inwramipo 
J§5J?52^S®71 A»i 94 O009W88(l0M3'NUn95StlU)098SB 
“J®^S«9«apW 0009*50000971 1800962300)96*1 
0 J1097300 JD9791ILD0971 50.009763 
OJJlOlSMJDWISJunOS 0009942 

OJlDlHiJIlWaOMorW 000046 

*=£*** 3h19 5 Wed’s. soles 27JBS 
«tetf5wenint «ijl4 on 956 

<CMS ^) «BW*ene- 1 wt •<««*% BWWl 
J 4 5S# ,n, f 0 ■ ?D,0 87000 06973 07018 - 
S"™S 06600SJP* 4 87031 07045 06995 07041 

87170 06085 Dec 94 070*0 07080 O70J0 07076 

Jun *5 QJT7I 

wed's ooen «tt 37,895 off 2te 


-B- 2 J 8 >■’ 

3 "m 4 

-a •' t-T 




+B SWT- 
+J* 211 7 
+12 » 
+W SB f 




+» 563*7 r 

+9 : U * 

• .+9 *». 


+I3UV r 

+7 748 . 

li JS' 

♦r * • 


Industrials 


4T7TTON I fJJCTN) mmu-cMiwh i> 

76M unni’ 4 B0 - 40 “*■ njs njn “JS 3 }® » 


W 1010 

1*Z LobtowCo 


dosed Thursday for n!^ 1 


Montreal 


Ascension Dav. 


Alcan Aluminum 28*s 3'^ 

Bon* Montreal 25 24<* 

Beil Canada «■% 43 

Bombardier B 20v, sens 

Camblar i?H 17^, 

Ccscooes 8*t 8W 

Dominion Text A *«, tAt 

Oanonue A 13 13 

MacMillan Bl I8*b 19 

Nall Bh Canada **■ 9 

Paniar Carp. 5?v. TSVb 


Sydney 


OweuecTrt 
Ouebecar A 
Quewcor g 
Tbieetabe 
Unlvo 
Video Iron 


BS»«» S 


Btacedb Brasil Vja 2l« OCT Resources us ia «»« 

ParonSuwwmn Ml"lna 726 £15 Tapbi Index 

KEEK" en,B iSJm w«m»*«fe«‘liw 4A0 4+4 Pnnrloos : IlB 

TrtlSrS* » ’« Wo00at * . 444 ^ 

Voir R to Doc* 11310350 : 5B4, - 4i Z. 

tforlff li, ,« PTWfew-SWUO Torai 


«-% c =*»«* 

Amcor 

8** 8W BMP 
«W «>W BCrol 
13 13 Bougainville 

19 Cota Mytr 

ift mX 

74 74 W C5R 

l*W Fosters Brew 
19% i?h Goodman Field 
We 18W 1C1 Australia 
. « a Mwwllon 
16H 14W MIM 
18HJ2 Hoi Auaj Borffi 
News Cora 
Nine Network 
N Broken Hilt 

Poc Dunlop 

In Pioneer inti 


9J9 VJ7 Share 
4 40 4jb snimazu 


Nomura See 4»o 

NTT B9S&P 

Olrmpwi Optical 1060 
Pioneer 2/10 

Rlcah 866 

Sarrvo Elec S14 


3f3 ig XSSS^e 
Vl 5S MagnainllA 
J™ Maple Leaf 
Maritime 


‘n! “Smi? ? 
I'm J® Mama ind a 


ffe Afe 1 Naranda Inc 

NoroiKfo Forest 


I7JM 1668 Shlnetsu Chem 
367 157 Sony 
0iW 0.75 Sumitomo Sk 
4J7 440 Sumitomo Clwm 
,5* ,8* Suml Marine 
1760 17.14 Sumitomo Metal 

484 4.74 Talsel Carp 

119 1 JO TalshoMarine 
’■S .1-^7 TaketW Chem 
103) 1824 TDK 

I-S Te'fih 

•rll .fP Tokyo Marine 
enl ’1^2 Tgk+o Elec Pw 
'25 *!: Topoan Prlnllng 


’722 'JH Norcen Energy 
JK& Nthern Telecom 
rtoo 7110 Neva Caro 


SMO 9» Oshawo 
a? 7 2« POOurln A 


.S’ Fworoo™ 

'®2 '2E Pope Pelrofevim 

a* 75* I PWACorP 
702 7001 Rpyrocfc 


«M 857 1 Renaissance 
i»Q 1 Ream B 


14 W 14^ 
1 BW 1 IW 
30 '« SOW 
35W 3j 
37W 32'- 

» M 

18 la 
»V. TV, 
23W CP* 

**» 9ia 

17W ^ 

Ti ^ 

23V? 23 v, 
5W S=« 
. 25 25W 
13U 131, 
ISs I5W 
41W 47i, 
WFsi W» 
19*- 20 

340 3W 
2*5, 
IOW lift* 
064 064 

'B 18 

XF* SOW 
M*« 18*s 
. 83 81 


3045 7< JO Mav 94 7175 je u 2&66 70 JO 

79.70 2I65JUI94 367 70.07 285* Ztfe 

29 JO 2165 Aim 94 7845 7885 7830 78 72 

73.40 2240 See 94 J7J7 782] 77.7ft jfl_71 

7760 22.1004194 26.95 7? JO 3677 27.70 

27 JH 000 DOC M 26.12 7ftJ2 2601 7649 

2665 2265 Jon 95 25.95 7630 2195 

2*65 J4.7tlM»9S 2875 J*» J5--5 76W 

JlftO 2662 MOV 95 JiSS atss 2555 3S.8S 

2ft.41 74A5JU19S 25.45 28*5 7545 7ift5 

Esi sales 22.000 Wod s. sates 70.584 
Wnfsopen>r4 96584 up 992 


-OJA 3.580 
.831 39.741 
+CU1 13.155 
+817 10.335 
+ 8H 7420 
,041 15.928 
,040 2.589 
-O-ffl I.1M 
>835 638 

•0J5 )54 


^40 6840 Dec 95 93J0 

9245 BUD Jon 96 nJO 

n . as « 2 .nMa-M nm 

MJO 9440AW96 9i?0 

Ea^sotes 16000 WWTS. sates ilj)4 

Wcdsosonln, 654S7 up 53ft 

*-VtK I NCMX) ugtjnftK-aMipftma. 

582.0 m OMov 94 5324 5404 S3IJ Sun 

5*84 51S4JWW 

®65 37 \J3 Jut 94 5364 5444 SH.0 3*J 

5085 3764 Sap 94 5470 5484 M4 5*44 

vLo S48J 5564 5474 5524 

564.0 40l4Jai 95 , 

5M4 504 54U 

S£S SSSSS& OT -° 5710 "- 0 

6344 5394 Dec 95 5884 5924 5854 5867 

. _ Su» 


75jn 75 -*5 '8® 7L97 -OJJJW* 

J<A0 5948 Dec 94 7600 7610 7130 7340 —485 1940 ' 

7*ab 7ifl0 7SJB Ml 7635 — 085 11B ( 

71 J0 7549 7540 7485 -889 Ol , 

76M 1W0JWW 76CB 7610 7530 71)7 -Ml 

SS^iSSPLV . a -*W off <si . v 


—7 A 414 

-7J 

-74 sun 
— 7J 6MB 
-74 11421 


HEATING OIL (HMER 

4i Id Jun 94 


4827 >037 42,99 r 
4U2 +644 32794 1 


49 J7 +044 I*-®! Jr 
50JJ7 +840 11/17 

iUt +044 6448 V 

vS -BJ4 liS \ 


5153. +B44 Jig 
SLS! lUiUN I 


3*6* 5*00 Mar W WS IT* 

£*»■«*» 2X000 WU'S.Kta 30.074 

Wars open mi 1)6186 up 21*9 

PLATINUM (NMER) flPi»» ojl- tufa iim rmv ail 

§| Hits S3 £S 

SSS jg -» 98* 

Fit mtot N & hint, .rfta 1 1M — 1 JU 


Livestock 


CATTLE ICMER) amin-civi:i>>» 

75.27 *7 47 Jun 94 69.15 4915 684: ftfi 17 — at] 77.103 

TUP **87*ua94 *635 88 3? 67-32 *7+15 —080 17404 

7610 &0-COC7 04 70- T ’ 7a27 70.W to-CO —OM II 964 

74JD 70 JO Doe 93 7175 71.75 71.05 ti.ll —003 6*41 

7625 70 BOFob 9J 7740 72,« 7207 77 IJ — 0.1B 4.M4 

95.10 72JJ7Aor95 7X55 7X55 9X20 7127 -Jin 7.007 

7140 49.70 Jun *5 70.50 7QJ) 7050 7050 438 

Esl. sates 13.999 Wctf-. sates 1X705 
W Wippe ntat 71341 Up 1330 
FEEDER CATTLE ICMER) nwir.-mml 
m.m 'LSlMm'H 7<JQ 7ftJ0 7600 7607 -018 X*47 


76J5 Aw, 96 9830 76*0 9747 7»jS7 


7640 Sep 94 ^J5 9B35 77JS 77,90 — (J3J 

,’65000 94 7835 78 31 7745 778? -OM IJ4J 


42600 3060040795 

W3Jt£a*2%F' 

*17J0 33940 Jvn 94 380.10 38200 37140 

41740 SUigSe JBMO S»» »i*5 

St™ 

41740 36650 Apr 95 

^ S»5 ® ,J0 

41X30 31 020 Oct «5 

SS 


““ 4ij»An W 

41 JO Jm 94 
g« 42J0AUB94 

g-w oaoseow 

44.90 Oa 94 
*L» 4600NcnrM 

99.00 4600 Dec 94 

47.95 Feb 95 

SiW 4X05 Apr 95 HU7 >844 130 , 

«J»Mav9i 4947 +0/4 1» , 

£130 4679 Jun 4j 4697 . +044 t^TO » 

S8SJU195 W.17 IW' 

4*40 8 «Avsh etgi f 044 IW . 

^ M + “ : 

II 88» IJSi IBS 


>1 i ; 


-IJ» 

—1.90 7538* 
—1.90 

—1.90 70.237 
—1.00 4.999 
—190 14 286 
-1.90 4.DB4 
-•■S 4.740 
—800 5477 

-XW 1.714 

—24)0 


161 5 All 94 17J8 

IfS ?" 894 ,7 -*7 

U5H5«i9a I7.fl7 




1743 17.14 1743 ♦ffS fi'll! =? 


i+SOd94 17XO 1723 I7JD I7.U iWtf*. 

68?Nov«4 1699 17.19 1699 17.13 ‘‘If 

1677 17.10 +0.M 26»J ^ 


>6930ec94 1699 


l7sa ,:m Cffl t S2 1 2'SS 

1528 Feb 95 17.5/ 17.IO 17.B2 . I7JH +087 ftW 




!f 4 7M»4 S 17® 
1 155 Apr 95 I7JJJ 


17J¥ 17JH 'W6 
1700 >708 +MS TAB 


-J-10 4473 
— 720 jm 


|£a*Mw*5 1 7. IQ 17.10 17.03 1700 +JM 6^60 ( 

|X73Jun95 1707 17.16 174)6 12.10 'Z'SJ „ 

!H? JW,S ,7 - m 1M4 174» .17.17 +Q4D 3^ r 

{614AUO M 17.10 17X3 17.10 17.14 »0ffl 170 • 

}J25K« 17» 1720 «a 0 17.16 +8® 

J64J Oct 95 |7.19 +OAS 

17.I4NW9S — — 

1AS0O8C95 |7J5 I7K 


kill ; 


JA0 *JSB I Tenor Ind. 
?■?? TOSAKM 


«S TowW 


oow 

j,.; ana ter 


i,f , "l fj'i 

i'., rll Gas 
rll Steal 

3 ‘ rtl Telecom 


able Wire 
If ■ *fevn-5ch 
P . Trodon 


S • 30ti vlrrtlci 
■S' . tmm Union 



si'. TurtoulOs 
fi CC Group 


Madrid ^ 

BBV 3250 3 17J Vflrlg 16 

BcOCenlrOlHlsc, 2**5 2870 Boveseg Mmx • MJ78 

Banco Saniander 6420 uso PrwK»Tw4o Ma7 ® 

Baneslo 1150 1145 

CEP5A SK» 2*30 

Drooooas 7350 2285 — — 

Ercroi 'no Singapore 


Bonesao 

Bradesco 

Qrobma 


Toronto 


cc Group 
, lierprlse Oil 
S'* jroiunnel 
U sans 
?3'. >rte 
W 4 * EC 
S-lMIT Ace 
1 *'. aka 
■ ■’**anaM4rt 
+1 5E 
irwjinnesa 
SU JS 
6 i msofl 
llsdowi 
iBCHICta 


Boneslo 1150 11 

CEPSA 3000 2* 

DroooCos 7350 23 

Endetp 6650 65 

Ercnn 170 t 

Itardroto 97T 9 

RePlOl 4570 45 

Tobacaiera 3780 38 

Teleton ice laio 17 

V^JS+twnllDtfe, : 32X32 
PltTlDUl : J2QJQ 


Tokyo 


9T? 9*4 l Cerabai 
45*0 4530 Cllv Dev. 


I Banco Comm 
Ba&taal 


3780 3800 DBS U» 

IfllD 1775 FrcrserNeove 17 M 
: rn-n «n»Wio 1610 

Gotte n Hope Pi 224 

How Par X30 

Hume UMustrta 5 JS 

j ngya pe 5J0 

58^ M1J KLKepang 2ja 
„J®5 Lum Chang la 


Benetton group 294S0 i*10o | Malayan Baths 


cm 

CrMItaf 

EnKItem 


3025 2955 OCBC 
7715 2710 OUB 
3209 Rfe OWE 


AkWEfectf tra *02 Alberta 

A»Hi Chemical 77* 775 aJSb?-, 

ua AsaW Glass 1230 1220 Srp 

Bank at Tofcva 16*0 1*40 

8.10 7JBS BrtdOMtane 1530 1K» 

7M 7.45 Conan io80 1700 bctSL 

11 JO 11J0 Casio 1280 1770 aplES 

17 A0 1620 DOI Nippon Print 1830 18*0 UrklrSL, 

1610 18.10 Dahra House, 1530 1540 hJSSSS 

2J4 jji Oaf mi Securities 1*« 1*10 CAE^ 

34Z Fonuc 4290 «40 rerne—, 

5^ 1A0 Full Bon* Sfe 3380 rvSc 

SJO 5J» Full Photo 2100 7190 rrrotin 

11 11.10 FullfSu 1030 KM 

JM 181 HIKK71I 982 974 

1*4 Hlfechl Cable m 828 Sro 

.fan 9.10 Honda 1790 1790 Slim 

"JO lUB ltd Yakado 5470 5410 rK 

7.10 7JS ifeChV 701 700 ESS 

6 B Jaoon AlrtKMS 720 721 umS 


‘ “ AbHiei Price I6'i lai* 

1 Acni co Ea gle 15W tsw 

ns Canada mv «+ 

775 £!*r ,a Energy nri 21 W 
J2j5 ijjo fi2* Sortick R« 31 W 32H 

imo bcgST 501,18 
iS m§ ^ 

1S3D 16m HUS 004 OjN 


«80 4 m Rottimans «3 «i 

1™ S2S!®S* Con 54V * ^ 

13M 1330 septan Res 13 * 

3m 3210 ScaH'sHasp 'ii t21 

1370 mo Seovrom 30 39 

2® I!? SeprsCan Ti, 7*^ 

780 Tta Shell Can «l*+ 

’SSS Stwrritt Gordon n nu 

Vn 880 5HL Srsfrmttse 9 inJ 

Sowfeem ibw leii 

SnorAerosnoc* 175 ; itv. 

SMCOA O'v Al, 

Talisman Energ 31' , 31^ 

Tcot B 23 J3'*. 

TWtai Carp. IPs t*^i 

Toronto Damn jni_ jn,.. 

Tartfor B 24>. SvI 

O Transaito Ulll t*', u 

.. „ TransCda Pipe 17V» 17>% 

]Ji Triton Fini A 445 4*5 

15JS I5W Trlmoe lj£ 

4W Trbec A gS xri 

WJ 21fe (Jntcerp Energy N/r! 1?, 


77JOMOV04 78.83 .IH 78 10 7817 —a a L3»4 

78^ Jan 96 7&J0 TB^OD 77.50 77 J5 -0 45 417 


Financial 


17 B 173 I7J5 


1 ‘nr. • 


142 Fonuc 
3 JS uo Full Bank 
5J0 5j» Full Photo 


’sm 1 MO lc to 5 501,10 "3*“ 

l'So ino ™ 

a its IS ® ™ 

^ '910 CAE®* 1 " S“ » 

S a ,3 s 




80J5 75 90 Mar 96 77.00 77 25 7*00 neo _fl40 

7600 7* 70 Apr. »8 HSS 7605 7660 7660 -O.IS 

E%l vote* Ml! Wed's. ia*« 3.514 
VVed's open ini 13.000 uo 304 
hocs fCMEin «mn.mni»n. 

5*r 4SJ7 Jun 04 40JS 50.U 4>.ft! 4900 .qJH 1X42? 

Sty 4l30Jul»4 5035 MLS 49 AS 5WB -0.10 iAH 

SIX 4635 Aug 94 4870 48.70 4SJ5 4X53 -A£0 3439 

2 « is!522.£i 44 H 44 - 1? -°ts ?m 

50 JO 4105 dec 94 44J0 4500 4670 4675 —025 2.557 

BJO £1 It Feb S 5 4SJP 45J7 *677 46» — flJS 540 

48 BO 40.40 Aw 95 4410 4610 4177 43.77 -OJ5 285 

Sl.iO 47 40 Jun 95 49.00 4905 48.97 J90i —005 75 

*05 47 70JUI9S 4X85 —010 

Est. votes 4^40 WetfLsrAK 6.251 
WctTs coen tai 31 354 oH 129 
PORK BELLIES (CMERJ *uoo te- - cm «- o 


US T. BILLS ICMER) unuta-fti.eiMgKi 

«* 255iS2 Sf S ?5J6 9SJ5 


was it js i?a ira» -*» 


Eg-SOta TLA .WM-L sites 


?* j ; + ; ‘ 


96*4 Sep 04 94A4 96 10 34.43 Uu 

'AM WS 3438 

«««*« 9607 9617 9601 3405 


KSSJfr^jr&i r 

isns ^ , tn-n5i«W s » j W 

|6^^pw^rv i,, “ s 

t? Si &&B 5 ass! a il l * I ws 

lil S ’§£g l01 -" A-S S “s 

EUWIM m.m wctfLioiB laajso “' ,5 ' ® i 
weffsopenm xajn an nw 

«™eASURY BONDS ^ - 


*0AS 73.311 
•0A 114)48 

‘S-21 ljua 

• OJB 300 


4X52 Mo/ 94 4? AS 47.4J 46 9? *J2 — IJ3 321 

J9J0JUI94 D.oo 4700 4}J0 45.97 _gjo 5.747 

4jJ»Aw94 6SM 4120 4JJS 4392 -5.9* 1A36 

39,IOFrtj9S 51.03 SI A 0 J)ja 5150 2 U 

SOaOMbt 95 5158 51JH MB HUB >AJi 7} 


etetevnied 

JJ,-® Jd-lOehiniC 50JS 49 JO SL53 

loaS inJSf" 14 9157 51.05 5020 51JM tOA7 3Mg 

Jen? 2 , *Au 994 in «s S1JD gkVi 5136 +054 HIM [ 

5 WSeB44 SOJO SL85 ML25 SM6 +QA4 9JH4 - 

55 S-lgfS * 4 aus SS ££ tw 15» u i 

2-£ 6275Npif94 4X05 AM 47JB 48J4 +056 . 

M80D«94 ££ Sm SS BJ9 +044 8*7 "* 

MJUanss an -VM 

Si* 5] 25 Ft* 0 J 3S +044 

fiA. IVotfi. «jlu 31^19 

WW-iOPwilnl 96J22 off 299 1 


[i i »! ; { 


HVi\\ 




»ODMoy95 52.10 52.40 52.10 52A0 -4HH 


51 50 51 JdJul95 

49 75 49 75 Aug 95 

Esl. win lisj weifusoM 7,1*5 

wed's ooen m 7,991 up li 


ran sag run, 

*22 IE2 CCL infl 3 


7.10 7J5 

a a 


“a? S 4 *# Clnenta 
21 29 1 COmlnca 


7,0 W 1 Comvnt EkM 


17W 11% 
33 22 

*’« 615 
V5 0W 
4 A0 4\Y 
21 % 303* 
22 23 


^xeetytomliscrtha 
in Bdgnm 
i«g» cofl tofl^ree* 

0 800 1 7538 


CDF Ft* C rUCSG) J’JMr.-cmce* 

1 1X25 63JSMOV94 I OS AO 10800 10X50 100.15 • 2J0 13S 

113J* 6490JV4W l»SJ0 ID0.99 10670 10945 +Z30 2X09* 

>1225 6X505*0 94 105.70 10900 10650 10X00 +2A0 I4J53 

IH.’i 77.10 Dec »t 10540 IOL30 10600 10X00 >105 7JU9 

111A0 nnMorTS 10490 107.00 106 00 707.40 +115 1385 

N13) a2J0Moy« lOtJS 10500 10675 107 M ■ 1.50 446 

MOO BSJBJvl 95 10680 ■ US 58 

10525 19 00 Sep 95 10640 + 1 A0 = 

Ett.utn 1MB3 Wcdi.-jam 13A0D 
wed'sooenint S»380 m » 

SUGAR-WORLD II (NCSC) 1 1.-+« Bn . m B- id 

1140 9.I5JW94 1271 ■?» 1715 17.U —009 56605 


\\t% stis s?r ,o, - w « mfiZ ^ 
ks £3 n S : s i 

Tio-aa 9i-23 uor« 9-™ * m « 

“ 40 


Stock indexes 

sr.. «. 

«7lS 44935 «a£ 445A5 

ES SBK 5 *M «M «■ g*. 

Wetrc sates 77412 
MvSiSSElir 1 n, *2ii UP 3443 

247 90 Banhonflonej 
_ *•* Mil&Jiin'M iiAn lum iuiul mr u 


B Vrfr.fi •: 

F-- ^ .. 


. 1,95107,11* '• 

Tffi 'mS 

+i.« w ■; 


Sim 2®-1SJun04 3*550 7*630 m» W5.15 + 8 .W LM1 '. 

feljo ai-KS"" Wife 5^ MX + 0 >f m 1 

MJ5 l aM “*<* MMO 344.95 +4H 5» . 

cS «_ Z4 S^5 M "; , S 2 49 AO 249.00 249 AO WSS +X95 M 


c . 1 *. . : : -'t •• •+ 

fc, 4 't* »• -. . 

S 1 ? • * : - + 

! ! • e? 




§S iSSLi^ «■— 


»M7 B7^B J*i94ff24^ 

Sep 94 87-22 89- n n?.'P ’ ® 79,1 Qr 

ea.Wta 6M0 W«T6Jgto4 4.723 ” ®'' 0 1 « I.OB 


SHtfSaPOnW 3X190 up l9I 
EVJRQOOLUUtS ICMGtn n i,m, 

95AM 90 WO AnMuuH 1 net 


99400 Jun yj MJM Him mifl 
WJMSW94 94 170 SS 96100 m«S 
00.710 DOC 04 9X490 niS J?-]5 j}®) 
90J«Mbr95 tun y t+in S^S 2 T, ° 

7X7io ts nug SiSS 2 J» 

9IJI05*p* 5 06930 ^M0 gig ggjj 


SBC 


*402*5.40* 

20X751 


Haulers 
9-J. Futures 


‘W185.S® I Com, Research 


Commodity Indexes 

Close 

134MB 

IflMB 

141.44 


liriv 

v- c : >. *•» , 

K 1 ' '■ tr 

>5.'n * 4 :. *' 

'■v + i. ;* . • 


Previous -■ 
1,24631 ~- 
l.WJB 
141J3 
SU 8 . 




ijgkVgK 

‘i { 5 ?.* 








INTERNATIONAL HERALD TRIBUNE, FRIDAY, MAY 13, 1994 


Page 13 


(&**■*' othe, S - k - 

**ns 05 ■ ; ^ 

rjfc_perfeci Ul _ J^v 

p-teW.woni (S 
fe.ejfystaT-cIter^ 
wtet^ptee biu-'^i: 

i TKMKlttiCCUs ... 
pte.bKkdro^o; 
ttsdinfi 


8§W Wd BKJ 1 n' v*jL 

Si Waikiki 

a%:- water Auzi'g* 

i*r ■•; •' • • S 

ai-cf pace 

warfyou 9.1th j 

«0* Of the 

&A : gcoc3 res.di- * 
fSwDi ius fi Tj ;., ' v 

tetfiiio cver-o",. c 

*boanhe 

mb*** hCVf?': 

»8eatfL 




Profit Jumps 
At Grand Met, 
Rut Sales Slip 

-lEcSSd^^SS 4 lr“™ ttmi5h ” sal 

eannags jumped nearlyVo dSS said ^ werc disap- 

35 unjHDv^food tdJauSSSi 2SP 1 *. *ilh the drop m 

&' dHB “ d - JE p ^a,afrL 

enS* bcv “®8' Wngloro- jlan we Ihou^hl.^QjlS'Da^^ 

** £™^ysu. Gaidar si 

«E5S5£J*3t’Sfe L^;“,l or “* *— « divt- 


Sim Shines on Swedish Banks 

Nordic Lenders Are Emerging From Crisis 


— ana Smirnoff vodkT * Co., said , 
«™ed a pretax £446 million ($665 son’s results. 
^,o„)„ therimsixmon “(«W Thc ^ 

3^ 3 SrtJ?? paied «07 American ear 
Mtimiin the eomparabie year-ago “nb contrast 

» xaMXL lions fnrtlrw 


nrS* “»P“y said operating 
22*1?®?"*? branded food divi- 

SS mSK 1 ? ■?** on of 


The distilling division’s North 
Aniencan earnings slumped 1 per- 
cent. contrasting analysts' expecta- 
nces for 4 percent increase. Almost 
jO percent of the distilling divi- 
sion s sales by volume are concen- 
trated in North America. 


thef* visit J:cj 
AtfoodGro. ^ rz. 
ntmv a: a . ~ 
iirabes ;• t.'j 

Mqtsobl&ii .-... 
wariat^! : . .V. 
kn rtper.: r .v- . 

1 fewtg KT-.-f:* 
tih. h'seesn> lu.l ~ 7 
ocookotiL^j: 
*S«®c r 
m £250 *53 
'.yoisj cr -• - ; 

~««3«S •• 

*e»'twi ***: 

Cud s* U t'vc- .. .•-. 


on on saies ol _ . 

11 . 0 / billion, up from profit of .Jo improve profiubility. the dis- 
tlz./ nuUion on sales of £1.61 bil- t * Ui »8 division lowered its U.S. 

t b^J> r e v tous year. Food retail- stockpiles. Thai move reduced 
S® profit rose to £73 million from P^ 1 111 tbe first half and will result 
“ I million. in a' one-time pretax charge of £40 

£254 million from £258 million « sur P nse .' f Mr. Davis said. 

SC 0 * 166 ’ Hto f ™ 

A»«rG^ , d s ffi 

ej r . - m. . bqueur in the United Stales. 

™ r JrS D " ) T pard ’ toe chair- Seagram Co. had been expected 
Xifj} 5^ Met > . said be was to assume the distribudon ri^to 

5iV^S?iS^ t5 ' e ^ edaI * Absdut . Mtar September. ^ the 
the posmve impact from the eco- companies agreed instead to trans- 

n r ^ Ver y - m toe United far the brand in January 1994. 

. *&*toc problems at dtaffl. 

^ysouflookcidoo,^ SKfiK^^SSfi 

The company’s shares tumbled to 15 pence. (AFP 

nearly 6 percent on disappoint- Knight-RidJer, Bloomberg) 


Rewen 

STOCKHOLM — Two of Sweden’s largest 
commercial banks, Skandinaviska Enskilda Ban- 
ken and Sven ska Handdsbanken, seem to be lead- 
ing Nordic banks in a race for recovery from the 
heavy losses of recent years. 

The two Swedish banks, which reported strong 
fust-quarter results in recent weeks, may be best 
positioned for a resurgence among many Scandin- 
avian banks just now regaining their footing after 
widespread speculative lending during the 1980s. 
particularly in real estate, precipitated the worst 
region-wide banking crisis in history, analysts said 

A major reasoa for the optimism on die Swedish 
banks , added some observers, is that unlike many 
other Scandanavian banks, they avoided succumb- 
ing to government control when bankruptcy 
loomed as a real possibility. 

Two large Norwegian banks, for example. Den 
norske Bank AS and Christiania Wnwir Og Kredit- 
kasse. are now statc-comroDed, after tbdr deep-in- 

the-red balance sheets of several years ago were 
rescued by the Norwegian government. Oslo 
pumped 22 billion kroner ($3 billion) into the coun- 
try’s banking sector to keep it afloat, and now owns 
87 percent of DnB and 69 percent of Christiania. 

DnB plans a capital expansion of about 2 billion 
kroner within the next month, the first step in its 
reprivatization aimed at cutting the state’s stake to 
about 70 percent. Christiania made a similar issue 
late last year. 

Bo Engsirom a banking analyst at James Cape! 
& Co. in Stockholm, said he had sharply upgraded 
his forecasts for SE R»nirwi and Handels banken. 
but that be saw some uncertainties ahead 

“It’s been about saving your own skin in recent 
years, so we shall see now what follows this phase, 
when they’ve got control over their loan losses,” he 
said. ‘They prioritize different thing s, these banks; 
broadly speaking, Handdsbanken puts costs first 
and SE Banken puts income first.” 

In (his year's first quarter, SE Banken reported 
net profit of 1.38 billion kroner ($177 million), 
compared with a loss of 608 million kroner in the 
comparable quarter last year. Handdsbanken’s net 
operating profit more than tripled, to 1.24 billion 


kroner, from 316 mill ion kroner in the first quarter 

of 1993. 

Analysts say the shares of the two companies are 
undervalued by the market, and (hat they should 
provide returns near the European sector average 
m 1994. 

For SE Banken, for example, which made a 
pretax profit of 679 million kroner in 1993. James 
Cape! this week raised its 1994 full-year forecast to 
16 billion krona from a previous estimate of 1.9 


A major reason for the 
optimism on SE Banken and 
Han ddsbanken is that they 
avoided government control. 

billion krona. That corresponds to earnings pa 
share of 4.8 krona, up from the previous forecast 
of 3 :S krona. 

For Handdsbanken. analysis are forecasting 
1994 net earnings of around 4.5 billion krona, or 
13.5 krona pa share. Handdsbanken shares 
dosed at 1 11 krona on Wednesday, up from 107. 
while SE Banken shares closed Wednesday at 53 
krona, unchanged from Tuesday. The Stockholm 
Stock Exchange was closed on Thursday. 

Both of these banks were at the peak of (heir 
difficulties in 1992, with Handdsbanken charging 
8 billion krona against earnings for loan losses 
that year, and SE Banken booking 10.9 billion 
krona to cova its bad-debt costs. 

Afta first turning to the state for aid, both 
banks managed to avoid government ownership by 
completing large rights issues in the autumn of 
1993, taking swift advantage of a phase of strength 
and intense foreign intoest in the Stockholm 
bourse. 

Other Swedish banks woe less lucky. Gota Bank 
and Nordbanken collapsed and are now only start- 
ing to return to health following a forced merger by 
the state. Finnish and Norwegian banks have also 
recovered more slowly. 


VW Names fig 
New Board °** 
Members 

At SEAT - 


Frankfurt 


Lopdo>a ; „ • . Paris . . 
FTSE lOQ Jnde* : CACAO 





Armani’s Simint Reveals Large Asset Write-Down 



Bloomberg Business News 

MILAN — Simint SpA, an Italian cloth- 
ing company controlled by the designer 
Giorgio Armani, said it lost 184 billion lire 
(SI 15 million) in the first 10 months of its 
financial year because it was forced to write 
down 150 billion lire in assets that had been 
overvalued. 

It also said it would pursue legal action 
against past managers of the company whom 
it accused of falsi^ing balance sheets. 

Sumnl’s year ends April 30. and the results 
announced are for the period to Feb. 28. 
Simint said it made money in March and 
April, which wiQ reduce the full-year loss. 

Simint said about two weeks ago that it 
was faring deep losses and that it would have 
to sell its Armani A/X stores. These stores. 


which are only in the United Stales, sell 
A rmani rac ial clothing. 

Simint said it can cova 140 billion lire of 
the loss out of its reserves wide Mr. Armani 
and otha shareholders have posted credits 
for the remaining amount How much they 
actually will pay depends on what price Si- 
mint receives for the A/X stores. 

.Simin t said it expected the sale to be 
completed before a special shareholders 
meeting on Jane 15. 

Simint also said it plans to sell or dose 
enough units to get its annual sales down to 
around 250 billion lire It did not say what its 
sales were in the first 10 months of its year, 
but in 1992 it had sales of 377 billion lire and 
a narrow 1.6 billion lire profiL 

“Such a level should be considered only a 


departure base for an increase in the follow- 
ing years, based on a predicted development 
of the Armani lines, on the growth of otha 
labels and cm the acquisition of new li- 
censes,” a Simint statement said. 

Mr. Armani and his sister Roseanna took 
control of Simint in February, raising their 
combined stake to 41.75 percent from 20 
percent. They evidently suspected problems 
and brought in outside accountants who dis- 
covered the hidden losses. Soon afta, the 
managing director, Luca Ramella, left the 
company. 

In the six months ended OcL 31, Simint 
lost 119 billion lire compared with a profit 
of S.4 billion fire in the same period a year 
ago. 

Simint has not paid a dividend in two 


years. Its shares were suspended at 1,780 lire 
on the Milan bourse on Feb. 28 pending 
news of its problems. Trading hasn't re- 
sumed. The Milan market as a whole has 
risen about 28 percent from the start of the 
year, but S imin t shares have fallen about 4 
percent. 

Simint ’s own brands include Best Compa- 
ny and American System. It also makes 
dothes under license for the designer Ver- 
sace. For Mr. Armani it makes A/X for sale 
in the United States and Ar mani Jeans for 
sale in much of the rest of the world. 

A/X was being touted by Simint as its 
mam money-earner in the years ahead, but 
required heavy investments to start and is 
still losing money, according to reports in the 
fashion press. 


Bloomberg Business News 

MADRID — Ferdinand PKch, 
chairman of Volkswagen AG. reor- 
ganized the directors of SEAT at a 
board meeting on Thursday, but be 
stopped short of replacing the 
Spanish subsidiary’s president. 

Juan Llorens will remain at the 
helm of SEAT, or Sodedad Espa- 
nola de Automovfles de Turismo 
SA. in spite of considerable specu- 
lation that Mr. Pitch intended to 
replace him at the special meeting 
of the board held in Barcelona. 

“What has happened is they’ve 
put together a young, cohesive, ag- 
gressive team that has total support 
of the Volkswagen group and 
strengthens the position of presi- 
dent Juan Llorens,” said Rafael 
Casas, spokesman for SEAT. 

Although Mr. Llorens will stay. 
Mr. PiSch made three appoint- 
ments to the board who are expect- 
ed to be loyal to VW and to Jos6 
Ignacio Ldpez de Amomla. the 
controversial VW vice president 
known for his expertise in cutting 
costs. 

The rice president for finanra 
Roland Scbobcr, was replaced by 
Lutz Claassen, a 31-year-old who 
had been a member of the task 
force named by Mr. Piech in March 
to reorganize SEAT. 

SEAT posted a loss of 1.8 billion 
Deutsche marks (SI billion) in 
1993, accounting for nearly all the 
losses suffered in 1993 by Volks- 
wagen AG, which were calculated 
at 1.9 billion DM. 

“SEAT has been run as a hands- 
off operation, and last year they 
werc given a bit of breathing 
space,” said Glen Liddy of Klein- 
wort Benson Securities in London. 
“The implication to date is that 
they have failed to come up with 
the goods. They’ve failed to meet 
their projections.” 

Those projections have often 
been overly optimistic. Mr. PiSch 
bad even considered suing SEATs 
former management over last 
year’s income projections, accord- 
ing to an interview published in the 
Spanish daily El Pais in January. 

Mr. Piech accused SEAT of esti- 
mating 1993 losses at 150 million 
DM while concealing internal re- 
ports that showed losses that were 
really 10 times that figure. 

VW put togetha a rescue pack- 
age valued at 12 billion DM to bail 
out the Spanish subsidiary, and it 
implemented a series of strict cosi- 
cutting measures. 


tdjTmam 
, '093 . : 1004 . ' '.:r W93 

: tod®c' ; :' '• 

Amsterdam A SC. . 

Brusseia Stock Index'-.:. . ' ! 
Frankfurt ” '^ -DAX . > . ;• .* 
•ftmikfurf FA2 - ; : * 

ffoteMti vThex 


London 
Madrid. : 
Milan 
Paris • 
Stockholm 

Vienna' 

Zurich 


ftse ipq; . ’• 

General Index . 
..MIB ; ' 
CAC40 ' 
Afesrsvadifcten 
Stock index 
SBS ‘ : ' : 


Sources; Reuters, AFP 


£^U*r ; • • 1TO •: . : 4 

’’tfiffifetiy** frev. * 

dose r .vCtose-,'/ • Cfcange 

"ctpwdT: 

■'Xmod: ", 7 ' 

Closed 848.70 * '* » .v . 
. dosed;; ' ^83058 ,,IC7 
2,49470 '2,491.50 *0,1 1 
3,137 JO:. 3.13050- ,+0-23.. 
•322^g V . 350.90 . *GM - 
1,296.00 1,307.60 .^aOSP; : 

Closed ■ 2,176.74 \ . t : ; : : 
Closed jjjjflgj ■■■- 
Closed N.A. ' ' 

.Closed ; 836.37 . ♦. , , 

ImenuDonaJ Herald Tribune 


Very briefly; 

• Microsoft Corp. and Lotus Development Corp. filed charges jgainst 
Unite de Bancos Portagueses for pirating software afta discovering more 
than 300 unregistered copies of software operating on bank computers. 

• Repsol SA, the Spanish petrochemical company, earned a net 26.2 
billion pesetas ($189 billion) in the first quana. a 12 percent increase 
from the 1993 quarter, as higha refining and chemical margins offset 
Iowa crude prices. 

• Olivetti SpA, the Italian computer and office equipment maker, said 
sates on an annualized bans rose 6 percent in the first four months of 
1994, while new orders climbed 1 1 percent. 

• Riumone Adriatica «E Sknrta SpA, the Italian insurance company, said 
its net profit tripled in 1993. reaching 35S billion lire ($222 mUlionl. on 
improved results from both its insurance and investment sectors. 

• Spain’s gross domestic product grew 0.5 percent in the first quarter from 
the 1993 quana and 1 percent from the fourth quarta of 1993. 

• Transports A&eos Portugaeses SA, known as TAP-Air, plans to 
reduce U.S.-based staff by 40 percent and dose its New York sales office 

to cut costs amid slumping sales. Bloomberg, AP. Reuters. Knitftt-RtJder 


Spain Passes Labor Package 

Remers December afta lengthy negptia- 

MADRID— The Spanish Con- tions with unions and employers 
gress gave the final go-ahead on broke down. They include grants 
Thursday to a series of labor for onployos who hire disabled 
rhaniw arnieri at making ft easier workers or workers ova 45 and' 
for employers to hire and fire. widen the conditions under which 

Z' ££ « nalton- 

ff K* ^ wide general strike in » 

Some dements of the package were 
passed ear her this year. 

The changes were inuoduced 
unilaterally by the government in 


protest the measures. “Today is a 
black day ” said Candido Mendez, 
leader of the General Workers’ 
Union. Unions would continue to 
reject the changes, he said. 



BA Rejects French Warnings on Its Orly Flights 


Agave Frxmce- Prose 

LONDON — British airlines, 
supported by the government, were 
openly defying French authorities 
on Thursday and insisting that they 
would begin flights to Orly airport 
in Paris next wok, despite severe 
warnings. 

“Our position remains the 
same.” said a British Airways 
spokesman, ignoring protests from 
Bernard Bosson, thc French trans- 
port minister. Mr. Bosson said 
Thursday that France rejected 
BA's “strong-arm tactics." 

BA said: “We have the rights 


and the slots, and we will be start- 
ing our first London-lo-Orly flights 
on Monday with a Boeing 767 leav- 
ing Heathrow at 6.50 A.M. and 
arriving at Orly at 8:35 AM.” 

Mr. Bosson said Wednesday that 
flights between Orly and London 
did “not respect regulations and 
therefore will not be allowed to 
start” 

The French civil aviation au- 
thorities then warned British cam- 
era not to undertake flights into 
Paris-Orly and that it would take 
“all necessary measures" to ensure 
Lhal French law was respected. 


Mr. Bosson added Thursday: 
“We have always indicated our 
willingness to open that Orly- Paris 
route. But we simply have to have 
the time needed” to overcome vari- 
ous technical problems. 

But analysts dismissed such ar- 
guments. “It sounds like: We don’t 


want you to come and we will find 
some excuses for that” said James 
Hals teed of Credit Suisse. 

The EU decision forced France 
to open three routes to competi- 
tion: Orly- London, Orly-Maradlle 
and Oriy-Toulouse. 


Trie annual report of the Azazet Institute, he. is avalable 
for public Inspection during regular business hours at the 
address below by anyone who so requests within 180 
days from the date of this notice. 

Principal Manager Jcmes Derek, Jeff Hurwtt Associates. 
230 Congress Street - Boston Massochussetts - 021 10 USA 
Phone: (T) 617 426 2244 

tnstrtut Azazel T1300 Poulrgne. France. Tel: (33) 68 31 W 17 


SAJPRA REPUBLIC HOLDINGS S.A. 

Luxembourg 

Value Number 595.113 
Dividend Payment 

At the Annual General Meeting of Shareholders held in Luxembourg 
on May 11, 1994, it was resolved that a dividend of USS 2.75 per 
common share be payable for the year 1993. 

The dividend in respect of bearer shares will be payable from May 31, 
1994 upon surrender of coupon N 5 6 at the counters of the Company’s 
paying agents: 

Republic National Bank of New York (Suisse) SA., Geneva 
Republic National Bank of New York [Luxembourg} SA., Luxembourg 
Republic National Bank of New York, London 
Union Bank of Switzerland, Zurich 
Union Bank of Switzerland, Luxembourg 
Swiss Bank Corporation, Basel 
Credit Suisse, Zurich 


.CURRENCY AM) CAPITAL MARKET SERVICES 



Citrrency Management Corporation PlC 
Winchester House, 77 Loudon Wall - London EC2M 5 NO 
TcL: 071-382 9745 Fax: 071-382 9487 


FOTRJEIGIV EXCHANGE Sc GOLD Ij 


2-4 Hour London Dealing Desk 
Competitive Rates & Daily Fax Sheet 
Call for further information & brttebure 


LONDON & GLOBAL 
FOREIGN EXCHANGE PLC 

PREMIER SPECULATION SERVICE 
QUOTE UP TO TOO MILLION USS 
Top floor. Cameo House, 1 1 Bear Street, London WC2H 7AS 
Tel.: |071) 839 6161 Fax: {071] 839 2414 



■ '-S W,. 1 .. v’ > 


O INF Data Thom akx*o SI 0/day Q 

European O EOD Data for $ 5/Day O 

PRICEBUSTER ST"*"'"*" 0 


Fuf if resource 


TradeSlation Users 
for a Real Feed? 


- Looking 


Call Anytime 


On London 


44 + 71 231 3556 


Duff Forecasts and Market Myths for 1994 

Hie US dollar will sodr; delldllon will ccnlinue: gold & mos) commodities 
won i rise; Japan j. economy & slock mctkel will be 'week.' You did 
NOT read thal In FulterMoney- the Iconoclastic Investment leller. 

Co.. Kyla Phillips lor oiompie ihsb (coco only) ol Chert AoclyJo Ud, 

75*c : icw Slreal. Condon. W18 7Hd. LK To: lonco.n 71-i3? Ji6! 

. J ‘. --rar-in:u*0-or fo» 71 -r39 45A&’ of.V.W, Vi-rrKwl 


✓ Competitive Prices 
✓ Daily Fax Service 

TEL 071-931 9188 i FAX 071-931 7114 

SOVEREIGN (FOREX) LTD 

4?) Buckirwh.vn Pabce Road. London SWIW ORE 

34H FOREIGN EXCHAN6 


Now available - The NEW FutureSouree Digital Ffeed for TradeStafion 
Users. Al! Major Futures & Options Markets * Real FX • 24 Hour 
Coverage, including broker prices * Refresh Data • Automatic 
Historical Download • Jntro-Day Corrections. INTERESTED? 

Call FutureSource Tel.: +44 71-867 8867 Fax: +44 71-481 3042 


•FOREX ‘METALS ‘BONDS ‘SOFTS 

Ohjeriive analysts for professional investors 

(44) 962 879764 

T if 1-' \ T) Flennes House. 32 Southgate Street, Winchester. 

r, Hants S023 9EH UK Fax (44) 424 774067 


t S"“» !“* ! S "S ■”* ■**» »*” aS •“ a I 1 ", a**a 

nn I ilP. “• ivv : J 
24 hours a day - only $1 00 a month! I 

UVE FINANCIAL DATA DIRECT TO YOUR PC LmJ 

I 

1 ~ njpci wava 

For more information Fax +45 4567 8773 


lv| 



THE DAILY SPECULATOR 
THE COMMODITY TRADER 
THE WEEKLY INVESTOR 


Tmety, specific, proven mar- 
tet strategies, detoemddafy, 
bdure the m&kgts open. 
FteasecaBforaFREEcopy 
of the market latter of your 
choice. 


FINANCIAL TEA DEBS, LTD. 

280 Oser Avenue 
Hauppauge, NY 11788. USA 
Tel.: 516-435-0800 
Fax: 516-435-4897 


For further details on bow to place your listing contact PATRICK FALCONER in London 
TeL: (44) 71 836 48 02 - Fax, : (44) 71 240 2254 

lirralbSSribunc. 












Pa 

1 ' 


Page 14 























































































INTERNATIONAL HERALD TRIBUNE, FRIDAY, MAY 13, 1994 



k»; « t: 




59^1 jj :, 


55 -"- : 4 ;: V 

Ste-.Vi iv > 
•ifti.a a ** : 

W j 

iSrV»i t s 

pf 


ft. 1 4 * 

I ii ■: 


■ >j « . k 

flu* 

* *■<■; v-'' 

■ •'* .«■ .-• 
f lV* : V ; 

f .fl V 

l .*> t 

# . w ■{„- >i*i 

b • * 

i?.‘ ; .• i*i 


ffir * **» 

r *? 

St* ?. 


- * 


• 

• • V 

lit ••- 

'A.r( 

I..?.? 

■ -i 1 1 

y? ** ■*■**•. 

k »*»■ 


^.rz 

vr« >■ 

*> • *' 
ff: 1 -/ 


U.S. and Japan Moving 
To Restart Trade Talks 


Page 15 


ASIA/PACIFIC 


TOKYO 

Satiations herein r® *«* ne- 

spSHs 

M ; ^"“opkr. the 
tnes summit in i«i„ x*_ F 000 " 


■ftiS - mari£ « shares -a 
“»ay cntenon — would be con- 
lr ^‘°P™iptes °f free iradf 
T 3 *™ 1 also met Walter F. 
u * s - ambassador to 
^*an, on Thursday to rfiqri tcc rp. 
sumroe trad- ..il. . 


curing an invitation to \tishWasE 

ffiSMaJisrs 

“CTpnroe minister, failed to re- 
»We significant differences over 
n ^ unn 8 progress. 

, J" talks were aimed at opening 
Japanese markets in fourareas: 
government procurement of medi- 
0 " equipment, telecom raunica- 
tons, insurance and automobiles. 
The Umted States wants progress 
m the market to be mea- 

sured by objective standards, but 
Japan has maintained that estab- 


every a fort lo convince other Japa- 
H^tiies to resume the negoti- 
ations before the summit,” 

Mr Mondale was said to have 
lhe United States 
shwed -the same hope." 

Earher in the day, Mr. Mondale 
a na T rade Minister Ejiro Hata 
sgreed that both nations should 
make efforts to get the stalled trade 
negotiations back on track 

Separately, Yotaro Kobayashi, 
the head of Fuji Xerox Co. and 
acting chairman of the Japan-U.S. 
Buaness Council, said Japan should 
devise its own objective critoia as a 
means of restarting the trade talks. 
.Mr. Kobayashi said it was “not a 
difficult task" to make a qualitative 
evaluation 0 r U.S. access to Japa- 
nese markets by employing some 
acceptable yardstick to measure 
progress. 

The United States and Japan had 
agreed to objective criteria in July 


1993 when then-Prime Minister Kii- 
chi Miyazawa met with Mr. Clinton, 
and it should be possible far the two 
nations to agree to a “mutually de- 
sired state," Mr. Kobayashi said, 
Mr. Clinton clearly stated in the 
wake of the collapse of the trade 

talks in February that America was 
not demanding “numerical tar- 
gets.” and Mr. Kobayashi ques- 
tioned why the Japanese govern- 
ment did not take up on this point 

to pursue alternatives. 

Mr. Kobayashi also said Lhe Jap- 
anese side should take the initiative 
in coining up with workable crite- 
ria, adding that it would be more 
effective if the private sectors in 
both countries, rather than the gov- 
ernments, took up the issue. He 
said a task force of the Japan-U.S. 
Business Council was working to 
come up with suggestions for ob- 
jective criteria in time for the 
Group of Seven summit in July. 

a te the signs of progress on 
y, Prime Minister Tsutomu 
Hata told Parliament that the U.S. 
call for objective criteria of measur- 
ing the progress contradicted his 
goal of streamlining government 
regulations. 

(AFX, Knighr-RUUer, AP) 


India’s New Rules 
Expected to Lure 
Foreign Investors 


Economy Crimps Japan 9 s Tool Firms 


Bloomberg Businas Wens 

TOKYO— Far the first time in 29 years. Amada Co. 
and Toyoda Machine Works LtcL, two leading Japanese 
maJune-tooi makers, reported Thursday losses at the 
end of their financial years. The companies blamed the 
slides on drastic cutbacks in capital in v e stment among 
cash-strapped Japanese manufacturers. 

Amada, which makes equipment to cut, stamp and 
bend metal, Thursday reported a loss of 4.33 billion 

iwn 1U1 .. .. m 


various machine took, announced a loss of 3.43 billion 
yen for the same period 

Both companies’ fortunes are tied to the health of the 
Japanese economy. When times are hard, as they have 
b«*n in Japan for the past three years, manufacturers do 
not purchase the equipment that tool -makers produce. 
"They have really been hammered by the weakness in 
domestic demand,” said Ifeter Rawle, an industry ana- 
lyst at Smith New Court Securities in Tokyo. 

The same might be said for the entire machine-tool 
industry in Japan, analysts said. Through the end of 
March, orders to major Ja pans marhip w-roni makers 
bad fallen far 40 straight months, according to the 
Japan Machine Tod Builders Association, a trade 
group- Machine-tool orders dining the 1993 financial 
year, which ends March 31, totaled 515.72 billion yen. 


lust 37 percent of 1990’s peak of 139 trillion yen. tire 
association said 

“The future remains very unclear, making it diffi- 
cult to make forecasts,” stud Saburo S himizu, Ama- 
da’s managing director. “It could still be painful." Mr. 
Amada predicted sales in 1994 of 75 J5 billion yen. 
down from 8126 trillion yen in 1993, and he projected 
a current operating loss of 22 billion yen. 

Toyoda Machine Works’ forecast was more optimis- 
tic. The oompany projected a profit of 1 .0 billion yen for 
the year ending Man± 31, with sales of 1320 billion 
yen. Sales in the past financial year were 133.67 yen. 

Amada spokesmen also said the yen’s appreciation 
against the UJS. dollar had hurt export sales, which 
account for about 20 percent of the company’s overall 
revenues. Amada and Toyoda are also instituting cost- 
cutting programs aimed at bolstering profits. 

While some analysts say that the next half year 
looks grim in Japan, others forecast that the nation's 
economy would begin a slow recovery later this year. 

■ Citizen Watch Reports Drop in Profit 

Citizen Watch Co. said Thursday its pretax profit 
fell 38 percent, to 103 billion yen, in the year ending 
March 31., and it forecast flat earnings for the current 
year, Agence France- Presse reported from Tokyo. 

Sales dropped 7 percent, to 234 billion yen, for the 
year and are expected to fall to 215 billion yen this 
year, the company said. 


Return 

BOMBAY — India’s deci- 
sion to impose restrictions on 
corporate Euroissues will help 
it control the inflow of foreign 
currency and keep overseas in- 
vestors interested in the coun- 
try's reforming economy, ana- 
lysts said Thursday. 

They said macroeconomic 
pressures, such as inflation and 
currency management, had 
forced the government to im- 
pose controls on Euro i ss u es, 
which Indian companies have 
used to tap overseas funding 
sources. 

“The restrictions have been 
imposed to balance the need of 
Indian companies to raise for- 
eign currency with macroeco- 
nomic pressures on the govern- 
ment," said Mark Bullough, 
managing director of Jardine 
Fleming India Securities Ltd. 

He said the government 
probably viewed die fall in the 
I prices of oveTseas-listed shares 
and postponement of a SI bil- 
lion offering from the overseas 
telephone monopoly Vjdesh 
Sanchar Nigam Ltd as indica- 
tors that Euroissues could not 
be allowed to operate in an en- 
tirely liberalized environment. 

India’s finance ministry on 
Wednesday announced new 
rules for issue of global deposi- 
tary receipts and foreign curren- 
cy convertible bonds, including 
limits on how companies can use 
the funds raised. 

An official statement said 
each company would be al- 
lowed to make only one Eurois- 
sue per year, with a 12-month 
gap between issues. Issues by 
any group would be limited to 
two per year. 

Officials were quoted by lo- 
cal newspapers as saying the 
total amount raised would be 
restricted to S2.S billion a year. 

Analysts in Bombay and 
London said the rules would 
kern foreign investors interest- 
ed by controlling the supply of 
Indian paper. 

“This wll weed out the weak- 
er issues," said Brijesh Koshal, 
president of Atash Securities 
Ltd “It will also make issue 
managers more discerning 
about which companies they 
take to the Euromarket,” 

The change will keep many 
smaller companies that had 


used the Euromarket for work- 
ing capital and local debt re- 
payments from issuing paper, 
he said. 

Mr. Bullough said the gov- 
ernment’s concern over how the 
proceeds of an issue would be 
used was important. 

“What the government is try- 
ing to say is it wants genuine 
industrial growth from the dol- 
lars raised, not profits from fi- 
nancial engineering," he said 

Prices of Indian global de- 
positary receipts have dropped 
sharply since February on the 


'This will weed 
out the weaker 
issues. 9 

Brijesh Koshal, 
president of Atash 
Securities Ltd. 

back of falling share prices in 
local stock markets, a decline of 
international interest in emerg- 
ing markets and a surfeit of 
Indian Euroissues in January. 

Most Indian global deposi- 
tary receipts have fallen below 
their issue prices. 

This led to the abrupt with- 
drawal of the Videsh Sanchar 
Nigam Euroissue, which was to 
have been the largest yet from 
India. It was unable to draw the 
price desired by the company. 

“There was clearly a situation 
of oversupply in the first quar- 
ter of thu year,” a London- 
based dealer said. 

He said investors were becom- 
ing more selective. “Now inves- 
tors have begun looking more 
closely at the quality of the un- 
derlying companies,” he said 
Newly 115 companies have 
announced plans to raise more 
than $9 billion via Euroissues. 

Reliance Industries, a petro- 
chemical and textile company, 
was the first to successfully raise 
funds in the Euromarket, raising 
$150 million in May 1992 It has 
tapped the market three times to 
raise S590 million. 

Since then. 27 companies 
have either issued global depos- 
itary receipts or convertible 
bonds to raise a total of S267 
billion from overseas markets. 


China Calls 
Mobil Plan 
Illegal 

The ABomucd Prtss 
BEIJING — China cm Thursday 
called Mobil Corp.'s oil exploration 
contract with Vietnam illegal, 
plunging a second U.S. oil company 
into a Chinese-Vietnamese dispute 
over the South China Sea. 

Mobil signed the contract in late 
April to explore the seabed in an 
area called the Blue Dragon field 
just west of the Spratly Islands in 
the South China Sea. 

China. Vietnam and four other 
countries claim all or part of the 
islands and their adjacent waters, 
and China reiterated its claim 
Tbursdav. 

“The Blue Dragon area belongs 
to the adjacent waters," said wii 
Jianmin. a spokesman for China's 
Foreign Ministry. He said that any 
contracts between Vietnam ana 
foreign companies to explore for oil 
in those waters encroached on Chi- 
na's sovereignty and were illegal. 

The situation is the mirror image 
of the dispute surrounding an ex- 
ploration contract between China 
and the U.S.-based Cresione Ener- 
gy Corp. Crestone signed a con- 
tract in 1992 to expore an area in 
the Spratlys called wan'an Bei 21. 
Despite protests from Vietnam. 
Crestone said last month that it had 
begun survey work with “full sup- 
port and protection from China. 1 * 
Vietnam also has vigorously pro- 
tested China's claim to the area 
contracted 10 Mobil A Foreign 
Ministry statement this week said 
the Blue Dragon field was “entirely 
under Vietnam’s sovereignty.” 

National Mutual 
Looks to China 

Reuters 

HONG KONG —National Mu- 
tual Life Association of Australasia 
Ltd. said Thursday it was seeking a 
Chinese or other Asian investor to 
help its Hong Kong subsidiary get 
a foothold in the China market. 

The Australian company said it 
would be willing to sell a stake as 
large as 23 percent in the Hong 
Kong unit. National Mutual Asia, 
to another investor in order to estab- 
lish a relationship. National Mutual 
currently owns 74 percent of the 
Hoag Kong unit and said it intend- 
ed to keep a stake of over 50 percent. 

The Hong Kong unit garnered 
attention early this year, when its 
chief executive, Andrew Yang, quit 
and went to work for the rival Top 
Glory Insurance: 


Hong Kong Singapore 

Hang Seng Straits Times 

13000 — 

13MQHHI . . 2400 

11( X®7 

ioooqjL ! .. \ • 2a» / r 

9000- — lAr- m' 


Tokyo 
Nikkei 225 

21000 - 

'*■— b 

19000—#* 


— 1 eT' j'f ' m a 1 a Wp ’ j'p'TO 

1983 . 1994 1B93 1994 1993 1894; 

Exchange index ' Thursday Prev. ' • ,&V 

Close Close 

Hong Kong Hang Seng 8,076it6 &,906.t6 '-OilU 

Singapore Shafts Times 22SQA1- 

Sydney • All Ordinaries ZfMM • 2AH50 , 4&33... 

Tokyo NikkBi 225 20J&L24 20,1 5Q.13 +0.37 

Kuals Uimpur Composite - 996.92 LOOQ,B7/ ' -Lt6 ■ 

Bangkok . '■ SET “ 1,232.72 1.238.76; .-OaP 

Seoul Composite Stock 952AS 048.91 . +0.37 

Taipei WWghted Price 6,004.38 6,024.47 -033 


'V J'F 

1993 


h D' J'F'tf A 

1993 1H 


Hong Kong Hang S eng 

Singapore Straits Times 


Kuala Lumpur Composite 
Bangkok . - SET 
Seoul 'Compo^te 

Taipei Weighted F 


.Manila PSE 2^16 . 2.85227 *0.11 : 

Jakarta Stock Index doted 465.53 

New Zealand NZSE-40 IMftPSO 2,06334 +1:44 . 

Bombay National Index 1,B27;78 . 1,837.34 -0,52 

‘ 1 - - • . ■ ' . 

Sources; Routers. AFP liueraathmol I kcraU Trflwn! 


Very briefly; 

e John Fairfax Holdings LnL, the Australian publisher, said higher 
advertising had helped boost profit by 143 percent, to 117 million 
Australian dollars (S84 million), in the nine months ended March 31. 

• Bridge Oil Ltd. of Australia said that a takeover bid by Parker £ Parsley 
Petroleum Co. of the United States valued at 294 million Australian 
dollars was “totally inadequate” and advised shareholders not to sell. 

• Vietnam plans to dissolve or merge unprofitable state enterprises as pari 
of the second phase of a restructuring plan for lhe public sector. A 
circular ordered all heavily indebted or bankrupt enterprises not already 
restructured to prepare for dissolution or merger. 

• Camboda has proposed new taxes on salaries, company profit, con- 
struction licenses and land in a bid to broaden its revenue base. 

• Iran has proposed joint ventures with Sooth Korea to build a natural gas 
pipeline from Iran to Turkmenistan and Azerbaijan. 

a Australia's seasonally adjusted jobless rale fell to 10.1 percent in April 
from 10.3 percent in the previous month. The rate compares with 10.7 
percent in April 1993. Reuters. AFP. AP. Bfnmiherx 


New Zealand to Pare Debt 


Reuters 

WELLINGTON — New Zea- 
land plans to pay off a chunk of its 
foreign debt as it moves towards its 
first budget surplus in nearly two 
decades. Finance Minister Bill 
Birch said Thursday. 

Mr. Birch said tire government 
would press on with its privatiza- 
tion drive as it builds on the foun- 
dations laid by 10 years of heavy 
economic reform. Buoyant growth 
and rising tax receipts have placed 
Mr. Birch in the position of being 
able to balance the government's 


books two years earlier than ex- 
pected. 

“Our priority has been to repay 
foreign debt to reduce the risks 
against exchange- and interest-rate 
volatility, and I don't expect that to 
change,” said Mr. Birch, discount- 
ing suggestions from some econo- 
mists that the government might 
try to push down interest rates by 
retiring domestic debt instead of 
foreign debt. 

Foreign currency debt stood at 
18 billion New Zealand dollars 
($10 billion) on December 31. 


sums lo earn meager profits. 

If tire purpose of having a U.S. 
flat-panel industry is to keep the 
Japanese honest and push prices 
dmyzi, the Koreans could probably 
accomplish that more quickly and 
at less cost to Washington. 

The United States might still 
want its own screen industry to 
satisfy military needs, because 
screen production will be a rapidly 


year and screen prices would drop to build a second factory, raising its 
to $600 to $800 in 1995. Others said total investment to $1.2 billion, 
they thought supply would remain Hyundai Electronics Industries 
tight for a few more years because Co„ another successful Korean 
lower prices would result in a larger maker of memory chips, also in- 


the rate of 60.000 screens a month ed to try to beat Japanese technol- 
by the end of 1995. In 1 996, it plans ogy. Rather, they will lake the ap- 
to budld a second factory, raising its proach that serv ed them well in 


total investment to $1.2 billion. memory chips — invest huge sums 
Hyundai Electronics Industries money and try to beat the Japa- 
Co., another successful Korean nese on price, 
maker of memory chips, also in- American companies, by con- 
tends to start making flat-panel irast, are expected io try to leapfrog 


market. tends to start making flat-panel trast, are expected to try io leapfrog 

With such a ferocious investment screens, as does the Onon Electric Jap" 1 by coming up with new tech- 
binge by the Japanese, it will take a Co„ a member of the Daewoo nological approaches, perhaps an 
long time for lhe Koreans to catch group, which makes simpler lypes alternative to the active-matrix dis- 
up, even with massive investment, of liquid-crystal displays. plays. These screens, which are es- 


up, even with massive investment. 

Goldstar, which plans to begin 
mass production in the middle of 
1995, intends to make 500,000 pan- 
els its first year. That is a little more 


SCREEN: SoutkKoreans Ready to Challenge Japanese Hold on Flat- Panel Display Business 

ConlmoedfraB pbge 11 had to produce, memory chips are million in 1996. It predicted supply the rate of 60.000 screens a month ed to uy to beat Japanese technol 

now seen by many U5. semican- would catch up with demand this by the end of 1995. In 1996, it plans ogy. Rather, they will lake the ap 

such screens, mainlv pereonal-com- ducior companies as commodities, year and screen prices would drop to btdld a second factory, raising its proach that serv ed them well n 

pulCT companies, already buy Ko- best left to be produced by foreign to $600 to $800 in 1995. Others said total investment to $ 1 2 billion. memory chips — invest huge sum 

rean memoryebips. companies willing to invest huge they thought supply would remain Hyundai Electronics industries of money and try to beat the Japa 

“We have some strengths here,” sums to earn meager profits. tight for a few more years because Co., another successful Korean nese 00 P™*. 

jaid Lee Sang Wan, executive tfi- If tire prnpose of having a U.S. lower prices would result in a larger maker of memory chips, also in- American companies, by con 

rector of Samsung's LCD opera- flat-panel industry is to keep the market. lends to start making flat-panel trast, are expected io uy to leapfro 

tion and formerly a leader of its Japanese honest and push prices With six* a ferocious investment screens, as does the Onon Electric Japan by coming up with new tech 

memory chip work. “We can use down, tire Koreans could probably binge by tbe Japanese, it will take a Co. a member of the Daewoo nological approaches, perhaps ai 

our memorv chip infrastructure.** accompKsb that more quickly and long time for the Koreans to catch group, which makes simpler types alternative to the active- matrix dis 

■n,. I government at less cost to Washington. up, even with massive investment, of liquid-crystal displays. plays. These screens, which are es 

The United Males goverarocBi ^ Umted States might stm Goldstar, which plans to begin * . / , . sen Hally huge integrated circuit 

announced last mon - want its own screen industry to mass production in the middle of P rinla;i pn are notorious!; 

would encourage U5. romp satisfy military needs, because 1995, intends to make 500,000 pan- j® 11 * scieens lo Amenc ? n ™ le ' difficult to manufacture, 

to build factOTiesto P ^ screen production will be a rapidly ds its first year. That is a little more Success' in' this business will nc 

panel screens. The . growing high-technology business, than Sharp, the world leader, ex- ® Pj ot . P r<x ?^ on ^ nc ' l * ias .°P' be assured for the Korean compa 

viewed as wtal for the nub Uiy. But flat-pand manufacturing, pects to be producing each month viSSfrvSSS! nies 0116 P roWem is 11131 lhe y wii 

aircraft cockpits. especially after the Korean compa- in 1995. By 1997, Mr. Cho said, ** depend™ 1 ai first on Japan es 

well as for the commercial electron js likely to become a Goldstar plans to double produc- P^ ollu ^.! n Al >y an & to sample the components and manufacturing 

tes industry. low-profit buaness like memory tion, to 1 million screens a year, raerc&aDdlse - equipment. Having to pay for dies 

American companies have the the type that American tech- and will have invested about $600 Samsung boasts that its screens supplies at prices that have beei 

basic technology but have been re- oology companies dislike. tdSBood. will be bvigber than those made by inflated by the rise of the yen wii 

fuciant to spend the hundreds of - ^ , ioma ^ . Samsung expects to begin pro- the Japanese In general, however, partly offset any cost advantage ih 

millions of dollars needed to build ^ cur- duction in February and to reach Korean companies are not expect- Korean companies might enjoy. 

a large-scale screen f3Ct0 |Y . , Tv shortage of. active-matrix dis- 

But if the Koreans succes snni y . to ^ ^ w a -j ut - m ^ 
break into tire comyujw-scrwn nextonc to three i years. Right now, v iMUtWHifUl.^ ♦ 4 

buaness, ii could lessen the resol because 0 r the shortage, a 10-mch II A|-<| 1 K |||% f 

erf the Americans to do so. r25-centimeter) color screen can 

m.:.. nAvai hanoesed in memo- ^ ^otehook comtrater manufac- _ ^ _ 

ry ddLL Id the Kre 1980s. some ^juoo to$1.40Q. T TVITVCTTV THE IT'S ? 

American computer companies gut ibe Japanese companies, led III J.Hfj UaO«s 

so worried about being too . Corp. and NEC Corp., IUaht PDTMTFD IN 

AwwU i on Japan for memory ^ -curing massive investments iiUW I Kill 1 MI III 

tpkfortn an American D- which now constitute MDRK 

p— <■* FOR SAME DAY 

n- - DELIVERY IN KEY CITIES 

& «-i— SHEIZ — -SiifSE.'KE TO subscribe, call 


For investment i nf ormation. 


siewea as vnai - Bol flat-panel manufacturing, 

a ircrafl cockpits. especially after the Korean compa- 

wsll as for the commercial electron- ^ ^efy to become a 

tes industry. low-profit buaness like memory 

American companies have the thetype that American tech- 

basic technology but have bem re- nology companies dislike, 
luctant to spend the hundreds ^ £ vCfl without the Korean com- 
rniliions of dollars needed to oun analysts expect the cur- 

a large-scale screen iact°|Y ^ shortage of. active-matrix <&- 

But if the Koreans succesanny . to ^ ^ w a «j ut - m the 
break into the co^puto^creen aaaotieU3 ^ee 3 ^, 5 . Right now 
business, it could lessen the resoi e 0 f ^ shortage, a 10 -mch 

erf the Americans to do so. (25-centimeter) color screen can i 

Apentfent on Japan for are pouring massive investments 

chmsihai they considered banding ^ leasing capacity. They see 
SSier to form an Amencan D- ^ screen* which now coomrule 
manufacturer. a S3 billion market, as one of the 

that Japanese com- few fast-growing markets available 
names, which also make compot w 

^^ouW wlhhoia <tal * TQtematioiial Data Coip. esu- 
Ss. computer companies or sell ^ dghl Japanese compa- j 

JtoSTStreineJy^PJ^nies nies would invest $3bflJ»n to | 

™ after the Korean over tbe n ® 1 Jw; 31“ , 

S^ywbichconductemar- 
and fears of overdepen- that produo- ' 

teW*: ^L^baded. Jusicad ^^^faow from about mti - 1 


Si ZoM kST «- p«ts«“ Unc i hasop * 

£ P a <» f - “ >° -p‘' ^ 

tion, to l mDion screens a year, merchandise, 
and will have invested about $600 Samsung boasts that its screens 
million. will be brigber than those made by 

. Samsung expects to begin pro- the Japanese. In general, however, 
duction in February and to reach Korean companies are not expeci- 


of liquid-crystal displays. plays. These screens, which are es- 

_ ... , . senlially huae integrated circuits 

Samsung is already supplying prinu: d on giro, are notoriously 
»me scieens to Amencan note- difficult to manufacture, 
book ^ computer, companies from Success' in' this business will noi 
the pilot production line it has op- ^ assured for the Korean compa- 
erated since 1991. some Amencan ^ ^ b | em is ^ lhev 
companies have visited Goldstar s depend'en, al nr si on Japanese 
pdot hnem Anyang to sample the comp0 nenLs and manufacturing 
merchandise. equipment. Having to pay for these 

Samsung boasts that its screens supplies at prices that have been 
will be brigber than those made by inflated by the rise of the yen will 


intiielHlV 


V ”T:-> ■ 




partly offset any cost advantage the 
Korean companies might enjoy. 



INTERNATIONAL CLASSIFIED 


MiW»*ifcv.w*Tw.inv» 


LIVING IN THE U.S.? 

NOW PRINTED IN 
NEW YORK 
FDR SAME DAY 

Delivery in Key Cities 

TO SUBSCRIBE, CALL 

1-800-882 2884 

(IN NEW YORK, CALL 212-75238901 


XQ D A K S 


8EALESTA1E 


MltA SOWN. Tic mod .efatd ot dfi 
Iih. ui ZURICH fudvaveV ot - 
WHMIStGi - Isocfcig men'i store ■ 
II flohnlmlBr. 01-21 iy 50 

ALCOHOLICS ANONYMOUS Enqfch 


AMERICAN GRSN CARDS 
lowest Foe far AssWonoe is pprf- 
u-ion process for DM. Vtafi ta- 
dudng re l o c oB n n aid employ msrrl 

Offices in US and Eodern Europe. 
U&1-B00-54SC2SS OR «WJOW«0 
ai Fo«: W3036&70 

LEGAL SERVICES ^ t'&ZK* 

— 48-12-66-61-00 EXTJ43 

DIVORCE FAST. S29i00. P.O. Bo* 

6040, Arriwn. CA 92B02 OA/Fra AS^T 



^SSsSS^S SS Sgite — ■*- 7 


Appears 

on Page 17 

MOVTVG 


(7>4| ww5 ISA- 

financial services 

FUNDING PROBLEMS ? 

Vsrtwe Oprcl ■ Eqwly Lavs 

Red EiUK liWWt 
Fvtpncvq ■ Lona Term 
Counted Eu»orted*Gweo«>*e« 

BantatM auaratMM lo wcuie Iwdnfl 
(or rtoble prcfech arranged byi 

Bancor of Asia 

CMMWMion kwm <J od/ upon FuncSno- 
Bioker'i Corrwwon Axtwe d 
Fa 1 63-2} 810-W64 
Tab (63-2] 810-2570 or 812*3429 


WITH APPLICATION WOCES5. CALL 
FOR THE CHANCE Of A UffTlME. 


SERVICED OmCES 

LONDON ADDRESS BOND S1KEET. 
Bmont oHiees & oil Mmcei 
Teb>l-71| iW WPS Fa*.- 499 7517 

BUSINESS 

OPPORTUNITIES 


OFFSHORE COMPANSS 


EMPLOYMENT 

DOMESTIC 
POSITIONS WANTED 


BpBOENOB) COURE imdoUa no*. 

Freedx Pcnagmse end woe Enefah. 
let El.lsSSra. ^ 


AUTO RENTALS 


RENT raOMDOGt AUTO 

WEEKEND: F 515 

SfQALOffa-JBAySffJOB) 

PARK TEL m 46 W W 04 


HOLIDAYS 

& 

TRAVEL 

SECTION 

Appears 
on Page 8 

AUTOS TAX FREE 


Y4HoHmi(3l)3«a6U9JFw 



>32, vs-8 











INTONATION \1, \l,D Ts?!Fl f NS. OIDAY. MAY S3. 1094 


co-t 

% earr 

G 
5516 
Leb 
earn 
& 
10 ir 
is: »ng 
I and 
woul 
the r 
year, 
r Te 
1 depo 

|lE& 

3'* ; eonip 
3:| ‘ Bolsa 
j'-I ; Thun 
fe: Fid 


NASDAQ 

Thursday's 4 p.m. 

This iisi compiled by the AP, consists of the 1,000 
most traded securities in terms of dollar value, it is 
updated twice a year 


lJMonUt Sts „ 

HMl Low Stock Dfv VJd PE 1005 HMl LowLflWOl » 


I Low Slock Dfv YkJ PE IBOi Kon LowLcnslCH'oc [ H.jh Law ”i»:i 


lie PE Hus Hie 1 : Lir.-'-L.-.'Cr-';- 


-30b IX 1« 
1 6 
_ 24 
JOB A 73 


M 1.6 
A 13 .1 44 

JJ4 J 31 

Z 43 
_ JO 
34 1.4 >4 

- as 

1.16 4J 1 

- 61 

.04 J 12 
64 32 1® 

AO ZO 17 

_ n 
_ 30 
.. 20 
-1138 
_ 1115 
-. 15 

* * ji 

_ 30 

Z >4 
.48 .9 21 

.. 18 
_. 49 
_ 28 



34%3VwBBLT 1.08 

35%I2*9BHCFns jUB 
MW 16 BISY5 
71 43 BMCStt 
ffl% BV»BMCWIl 
27% >5 BW1P J2 
30 9 Babooe 

2596 15*» Baker J .06 

24 ia%BafvGm 
33 w H DanPooc 1.00 
78 57 % BcOne ptC 150 
45%ll%BncGdiC J2r 
24V.17%BOOC»C 
20*9 11 Li Bfc South M 
JSWJftWBartn £2 

26 W lI’.iBorrynSr 
38 22'4Barefl 
15% 9%BaretRj 
7 2>V„BalTech 
59 '.4 J7*9BavBfcs 1.40 
35% I7*9Bed8tti 4 
57*138 BeUBcp 
15*4 6** BHIAAlC 
*>% 24%BeUSM 
9% 3%B*ntOG 

2 fSJgSS m 

29% I4%Beitt-wr 
13*4 91. BloBs .12 
52%.2S%Blogon 
13*4 flWBramet 
6*4 BiaTcG 
33%M%Boa1Bns 1.34 
23% 16WBabEvn M 
25% 14 BaoWVUJl 
321j 13 Bapuitwn 


51 14 Ba&lOK* 

14% *%BoslTc 
14% 9%BaxEnB 
15*4 3% Brlrev 

S U11 BrdbdTc 
*4 31 BrodSt 
31*. ®%Bro*3aur 
17V, lOWBrTom 
I? 1 -* 7%Bnj(Krs 
271, 17'., Butters 
IB*. 7%BuiMT 
16V, UHACAI Wre 


j6 10 1 14V, 

... 61 2 19 

_. 76 7756 55V* 
_ 21 510 29% 
IX 102 3985 17% 
_ 11 253 9V. 

J 12 1032 20% 
„ -. 253 149. 

1 1 10 28 33V, 

I _ 129 58V, 
1.0 - 334 33% 
_ 18 543 22% 
2A 11 525 18% 
U 16 331 35 
_ 147 1083 16% 
_ 29 360 35% 
_ 30 lie 14% 
_ _ 207 3% 

2 J 15 I110u59% 
„ 41 951 27% 
_ 15 38 51% 

„ 25 309 14% 
_ 25 1614 79Vi 
_ _ 4016 7 

U It 3 38 

z S .s h 

“ a J jjs 

... 17 1325 10 
aS io ilS m% 

'i 5? S SS 

_ 36 597 17’S 
„ 191494V 11% 

— no 1260 37 

_ 47 545 13% 
_ 103 *»5 10% 

... 198 aw 

... _ 678 15% 
_ 26 3371 40% 
_ _ 722V 11% 
_ 323 1736 13’. 
3-3 14 1254 7% 

_ 28 2880 19% 
... 23 93 13V, 

« _ 261 11 V* 


28% 28% — % 
14% 14% +% 

19 19 ♦ % 

54V. 55% -4a 
27% 28*1. — 1 Vi. 

17 17% *% 

a aw 9% _ 

20 20% r% 

14% 14% _ 

32 32% - 

57% 57% — % 
12% 32% ♦% 

21 21 % — % 

18 

34% 34* . *% 
15% 15V, — Vi, 
34% 35% — % 
14% 14% *% 
3 3% - 

59 59*4*1 

25% 26% *% 

M S% * % 

279.28%,— iv u 
6V, 6?» - W 
38 38 

16 16% * % 
14% 15% **» 
11% 11% _ 
34 34% * *5 

9*4 9% — % 


150e 5.1 128 


_ 39 
„ 17 
_. 15 
.596 .7 43 
JA 23 14 
.12 J 38 


04 £ !$ 

_. 29 
_. 9 

_ 2 
_. II 
.10 9 14 


_ 16 I 

1.2H 3J 28 330 

_ „ 199 

■50 27 -. 746 

_. 25 833 

_ ... 130 

_ _. 81 

_ 12 765 

_. 20 1587 

_ -1181 
_ 24 337 

... -40 501 

M _ O 9TO 

_ 29 533 

M .1 M 65M 

_ is an 

_ II 3040 
_ 28 995 

„ 32 746 

_ 19 TUB 

A5a 1-2 10 168 

M 14 >3 27 

_ 24 80 

- 21 14? 


32 15 OFSR 

7% 3V.DNAP1 
73% 35% DSC 
20 1315DSG lit 

19% 1 2 1 * DSP Gp 
31 7*>Oanai> 
46% 21 f. Danko 

17 17 Dal so, 

77 22%Daupnn 
27 14%DavtKnA 
20% 8%DavRun 
H%23V,D8Vrv 

74% 13V.DeO.Out 

18 ll%D«fl£h0 
36 22%DUbGn 
34% ITADenCDtr 
27Hl6%Deinne 

23% 13% DoltQn 
47 3l%Dentspis 
25% 12% Desfeans s 
77% vwDiaiPoe 
32% l4%Dtor*iT 
24% 12 DKuInll 
20 12W DaTlLnk 

30 8 DBMic 

39 V, 30 Ctonex 
34% 13 V] DiscZno s 
27% 16 OlrGfllS 
25’', II WDonkenv 
32'. i4%Dovatm 
15% lO'ADresB 
3l%21%DreverG 

40 14%Duracrtt 

20 14 Durtnms 

33% 15%DvWiC 
28% 15 EC1 Tl s 
34% VWEMPIS 
34%ll%EalHrd 

41 ■/. 28% Earn van 
48% 9%EdcA!f 
11 6%Eoan«ad 


17 SVhEtcSo' 
35’/,13%Elclrrfs 


9,* 9% -% 42 17%EtaAn 

TVu 3% _ 20%1J%EF1 

32% 32% *% ) 14V, 11% Emm* 

20% 20% *% 1 — - “ 

20 V, 21%*l 
16% 17% ♦ % 

NS'-fisrfa 


12V, 12% ♦%. 
10% 10% -W 
8*. 8% — % 
14% 15 +% 

38% 40% *1% 
10% 11% _ 
17% 12% — % 
7% 7*t. -V,, 
19% 19% *•% 
13% IJV„ 4% 
II 11 _ 


16% 1 1 % E/nmlsBd 
11 %cVb Encoa 
17% 9 EooTHm 
31% a'eEnvrraUt 
23 l2%EnwowCo 
24V. i5*'.EauiCnn 
14% 12% Eqlylnn 
60V.35%ErlcTri 
21 14%EvnSut 
22% 7* Exabyte 
34',3l'.Etf» 

19 V. 12%Explns 
66% 24 ExpSott 
24% lO' .EaCorp 
30 IB*if=HP 
31% 17% FTP Sit 
30% 17 FrmHms 


-. 39 185 

- .. 1297 

_ 35 5527 

.. 14 170 

.. _ 3 

23 2936 
Jit) £ 35 919 
.. 13 269 

.92 3.7 12 388 

- 44 16 

._ 16 198 

_ 19 44 

_ IS 645 

._ 15 138 

JO U M B 

._ ._ 9293 
_ _ 7V8 

•16 1.1 « 72 

_ 28 773 
_ 36 657 

” " ,] J 

_ - 63 

_ ... 579 

>.15 t 
. 101 326 
.16 A 26 3690 
>. 16 171 

_ _. 800 

.. 14 1156 

34 1.1 20 1604 

_ 29 1294 

.42 2.7 17 964 

_ 12 158 

_ n 6255 

_ 10 406 

.. 27 51’ 

-60 2.1 9 495 

_ 51 447 

- »9 1196 

_ 9 1263 

_ 14 1650 

- 1914614 

_ 14 130 

.16 ll J 2298 

“ " ii 

.069 £ _ 20 

Me 1J <067209 
-. 44 76 

_ IJ 7436 

.10 J 21 704 

_ 14 *10 

_ 37 2283 

02 1 Jl 18 243 


9 «'r 

3% 3% 
21% 
12' » 17% 
37% 37% 
14% lSVs 
18% 18% 
24% 24’.. 
9% 10% 
9*. 9% 

18% 18V, 
J5% 47 
20*. 21% 
17% 17% 
I4*i 14% 
16% 17% 
49% 

24 M 
37% 3»% 

25 25% 

71 21 

MV. 21% • 
10 11 
36% 36% 
53*. 53% 
25% 26***. 
18% 19% 

7% 7% 
21V, 21% 
71 21% 

5% 51. 


26% 25". 25*. — *. 
4% 4 4'i 

61 % 60 60% * 1 
23% 23V. 23% 

IS 15 IS — % 
17% 16 W 16% — % 
40?« 40% 40** 

14 13% 14 

25 24% 25 » ' 

20 19 19 

16% 16% 16*. — V. 
27% 27 27 — % 

15% IS 15% -1 
13% 12% 13*. *V, 
31% 31*. 31% -% 
24% 23', 23% — 1’ . 
17% 16% <6% —V. 

15 IS 15 

35% 35*4 35% —Vi 
13% 12% U — % 
33% 37% 33W — % 
IS dl4V« 14*. — 

14 13% l&u -** 
16U 15% 16% *% 

9'.i 8% 8% — % 

33 J2W 33 
154-B IS 15% 

25W 24*4 25 
25’A 34% 25". +', 
20*. 19% 20*4 .4. 
12 11% 11% - W 

22 21% 22 
39*. 35% 36*4—2% 

15 Vs 15 15% — % 

lIU 17% IB". * l, 
17% 16 I6V U — *u 

10 •% ID 4% 

U 13**i 13*, _ 

29% 28% 29 •*. 

16V, 15’. 15% — % 

8% 8 8% — '•* 
10% 10% 10% ♦ % 
33% 33% 33% _. 

18% d 17*. 17*, — V! 
15% 15% 15*i _. 

12*4 12*. 12*4 — % 
9% 9V, 9% 

11 9% 10% — % 

18% 17% 18% _ 

18% 18 18 -’-i 

17 1* >6 — 

12*4 12W I2'-1 ._ 

46% 44*'. 46%-?% 
17V. 17 17 — *, 

15% 15”: 15’ , 

25% 24% 744, 

18% 16':18%-t'r 
60 S7>. 5°*« - I*, 

12% I IV. 17". .. 

24 23 ZJ‘i _ 

21'* 20% 21 - .1 
SOW 30 30'.', -V, 


re loos rt9*l LowL^edCtfo# 


if tzzm 




• -if 

-54 




.. .. 46C '.I-, 

» b II "• 

„ 3.44uJ'.". 

JO 1.4 1* 2: l-->4 


_ It c 15 >V'« 
. lii j ZjZ ; J* 

.16 io ;-j 

.*2 35 -2 li 4 } ?”’• 

.i.-o i.j t *■ , 
.40 ... £ lC-,! 

. I? ’ 1 3% 

. iC 12H. 3 r * . 

. *C 221 20' , 

.. f- 15’- 

.„ 1' 2i Ii 

_ jj l*J.‘ l£% 

.44 l.i 73 110 32'. 

_ I' IoS 15'-, 

_ .. Kft 13*. 

_ - 2i’ 19 

JO IJ 1" 1059 JO 
.08* .i 24 SI 71*, 

•® D « :? J?-, 


:ii. * -.■--enen* 
I • . im* • 

'.c-i.-cm 

.-.vroed: 


19 “’.'.I-ST-.T 
20% IT .IDB Cms 

□S'-; 18’-. lO-j.La s 
21% lOUlEC Eic 
12% 7*.ICEN 
33% 21 IHOPCa 
il *‘:IIS 
29'-. 12' : IAAPS 
i S' . " ,'muLog 
28 1 , ■>• .irmwiP^P 
34%12%lrr*jfv:" 
3?*i 10*. Inaccr:' 
38% 24 IndBc- 
J5*i IS*. InlnBra s 
J4i, I7'->i ImoGofl 
44% 12', IntoRcT 
2 71 '. 14 1 ,lnlormi< 
76% ’'.inovTs 
18". 10*', InsilTc 
45',?] l/UAat 
20' 9% InieaOrc 

34% c-telnMOv 

27%19%ln»SIISv 
74*. 48 Intel i 
70% 11% Intel wts 

20 12%lnlelEi 
IS% 5%inrNrwt. 

17 9%lntrtc1n 
12% a'.rlnnjcn 
ST*. MUlnloHII 
IB' 122 Inierin, 


l-J-rl 

_ - J7'< 

- ? % 

r f :» 


30% 8%lrtCMe 
201, 14 mtlmoa 
20'., 4%inlTotU 
15' , JtelntetV. 
15% 9%lnlrrms 
27*, 9% Inr^jice 
SO 25*. inru.t 
29 1 ': 21 % In vc are 
37 10 iwtrt-, 

20*. 12 J&J Sn 
?6'-4 22 JSSFn 
19% 8' < JocorCm 
45%2**,J«Mn3o 
30% 16 JOtmsmA 
21 15%J'JWU 
1**. l5*,JuaFF«M 
22*. 11 v. Jus:inr. 

45 14%KI_A 

27‘.17'.:Ko>don 
7» 5',Ku«vC-d 
33":?2 s 

79'-: |jv,y-jne*i<di 
a%77%KcV?,. 

1*' : tO%krvi-Vr 
Ifi*. 7%>'itwl.4 
?£' : I3%*;arr,j-i 

31% v%KvK5c 


46*. lB' .LCI Inti 

19*1 lfcWLDOSs 


> IV SOI 

„ I5208H 
_. ?> 672 

. n m 

„ IS L 9 

. « w 

.„ 2? 8007 

_. _ ?2D 

J4 411 40355 
... _ 1384 
J2a 1.6 17x425* 
_ - 1107 

* “ iZl 

_ 23 9l3 

... - 748 

„ ~ 505 

“ I £ 

_ . 2103 

... 24 26 

. 275 40* 

103, 

.20 1.6 16 1197 

_ I. 10.7 

„ .. 244! 

.. 18 115 

.. ... *52 

. 14 a:io 

j* 2.7 16 84J 

JO J “ 470 

_. 37 83- 

J8 l3 l» 07- 


13 il% — 1 

1 5*4 Ii' . I £ * 4 — ' 
32‘, 71- . 3i% — 
1JI. . li*. I - • 

’ 1 %d : - ; ! r ?-- rf 
21 .i% .'j% 

II * I."' '5 • -*i 
13% i7% — 

n% to-'. :•’* - ■. 

<;*, 23’ • 5?' . 

.1 25 :. — 1 

23 27 :: 

li's li', :i , . 

15% 12% li 
7u% 75'.7i% -• 

14 ; 14' . 12' . 

W 3 25 

11% 10% U>% — 

78% :- r — 

2**4 2* 26 

60 58'; 53*. % 

14% I3»» 13' t — % 
20' o 19% 19% — % 
4% D% 6*4 -% 

13".- 13'. 13% .. 

*% 1% «*< . 

29% z:% 23 ■ j. 

23% 73' 73% ■ - 

6-4 ! 1 — 

17% II’-. 12% -% 
3% 3% i% — % 

21% 7t-% 71% -% 
17 17 P -I 

5% S', S'. — % 

11% II II -4 

13 17% 17% . 

10%., 10% IC% 

30% S'% 20 i 

2"% 2* r 

ir- ii n — % 
12-idii •. ij% - . 

2.1 73 73% -% 

12% 1?% 13% •% 

4.1 41% 2i% -% 

22% jj.’, 24 . 

19 13% 18 - - 

13 all % 12% — % 


~ . r; 1 : :l • .vcr.Sa- 

X: ; ^ hr: ’ 

. t ■ v-:rifl j 

\ -1- •- 

l-y . — • - I 5% i ...’icri: 

3 " >M. .■•■vc; s 

;<% . -1 C5’l 

I-.- . ’V > i%— xr 

iv >’.c3=' 

3.’. . : S- 13' .V<i:is 

tj’ ; - t 73-, H’.-V-.-iPn 
l:._ x'.r%M.oCr 
I! -% 3* r .- -,.'..ilplr 

I z — 1 s 1*' : U" > -VlitClUb 

18% % a": 12' iV.lcvSr 

19% — % 39 |£' :.'.17lT4l 

71 , • 1 J!'. 1 19* . V.idfc* 

?i-, Zi’ : '■ .'io-M.ki 

;i -% 3'.:r -vci.% 

4 M%?<' -.Vji.-.i 

J % :l .-.■•wcy;.'. 

:r : li-..Mar.9/S; . 
I-:,—:. P'i r > -..'-cr:-23 

j;% _• . l:-. > -.’isiVTi 

1-. - : i*>4 

r- ; _ , p - -. U r.vi'ima-. 


- 22 2-rf 
_ 77 JIJ.'L 
I IV 106 


_ : t ti!i 
■jo 7.9 r fg 

'. I' 942 


. . 71 '79 o' . 

. 63 75 s . 

. rr?j*6f5"> 

_ 76- 1' . 

12 142- 23 
_ :? 39i; 45% 
.. 12 J.W SI 1 . 4 
.10*! A 1C I5f6 25% 

£? 10 17 2-v 2; , 

_ _ e7»! :i% 

.. 1$ 62 14 

_ 5 1 Ilil 17 . 
.46 l.o 20 «i 70% 

.. 22 tri u.. 
£2 .1 23 BSJ i' 

AX .1 29 12V 31 . 

*« 13% 
.16 .9 10 15 1:% 

.. 74 I?; I? 

£> 3 .. 4I3J 1? 

. 17 1^ 14% 

- 17 UJ» 26% 


, >3' - 
* 2 >% 
■ '■!"* 
ii% lS-.i 
ta 1 : 19 

14% '4% 


??’■: 72%- 
»;■ ». 
3% 5'i* 
2% 5% 
6% !' : 
75 2? 

»3.. Vi.,- 

io , :o’ , 
29% 7t > t 
;■ . ■ 
70% 21 

25 »• 28% 

26 2c 
K»* 2GW 
13' '. 13% 
1*% P'a 

28' "4 

72% 73% 
37 2T% 

74a. ii". 
'7* 1 IT'-, 
i IS - 
I? II' , 
13% U 5 

a* 


.* I 19% lO'.RFSMtt 
- - ■ -- ,16% rpm 
, —t 1 Ro c ntek 
*;* ia% lOUPodsys 
•' I 9% 3% Radius 
-. - [ 31%- iv% ft ai ncx 
-' I 32 IjURtBnTc 
| '5*4 r- .,gc» 

■ : 1 ?i%:j P 


I-iR 

Recatns 
R Time 

* - ; ji’.-s i%Rc»enrn _ — 1304 ox go er e — 

"> 36% 29», ReenFn 1J3 X6 II 06 33*5 33 331k i* 

-J 73 ia%Rcn£om _ _ 949 22W 22 22U +W 

- - " Rerun rt _ 26 22M 21 SCA 20W _ 

% R?ncA,'r _ _ 840 5% a 5W SW —4* 

%Repaa ..SI 2^ r ti2<Vu- 

9% RepBcs 
« Reiound 
.... i’oRetir 


W'-s UURieiMs 
10*4 6*4RiB4.N7 
19% PURiaMn 
72'-. 13% Rival 


T 1 4;%is 
— :•* I ji*. ;p-j 
: |— .-, li% 


J8 13 19 0?- 19 IS' 4 10 -* 

. - 7?: 13 all' , 1:% 

.16 1J _• 252 17% 12% l: -4 
_ Vi 4158 18% 37% 2-1 
.jo 1.8 is 10? 73% ?:’. ::% 
. .. «1 o i 

JX 14 : 1 773 76 : 74 :< 

_ - «2 1 ;. . if 

1.79 4.; 12 22 ?u y- : :• 

„ . 201 1 •.„•% IJ . .' 

i> mi ro% :■•% '0 

_. ™ 5771 X'-I I5-, 1; 

_ 9 M2 17*4 13 I'.' 


_ 771 71S JV 2; 3; 

_ 191S»2* 18', 12% r- 


1 is- -i-TR..- 
32'.-:,%;:s 

J 1 : 17 ' 1 ::C 4 J.’ 

I 20' ,12 ■i:ivCw> 

1 1- :i iTi.v-pi 

2'v. wf 

* . :'lK7'-c-i 
1 17% j'.Ut-.cTl 
| '.i' . '%t4c-.ri s 

% 

:-5% : ?%;«•• :o; 

7'-' ; 15 Men 77, 

:» Ifl.NylinT 
19% 6*4 rwrtram* 
47 23 twnrong 

2 :% SWNrwFO 
li'e a'lNwklmq 
10% 6%fJf*4.Sv 
72*. 14 Neilrr, 

21% 1 I'.tiEBus 
2'. ->,i:wla»31 

“f i3« , .«y.» s 

15'.: 7%ft-.= -Cs 
> > .?: .Ne-tdOn 
l'.% 6»-tL-4CO' 
JV%I8 MCCO 
:2 40 %Ncrsn 

24.25%licitdM 
”..7 IIAS'C 
24% 3? MvrTrsi 
%' . I" ..lv.sl-v.fl 
17% -%r:~i»:iw- 
E- IS 

E'ilS t.c.;n 
ii k .re., a; 

p% 

16": 5 r. -P~ s 
:a '.i%:»u'.o«c-A 

22% 1 2 CJ.lCrp 
1*% : ORTI 
It, !< C-ctel 
%%1? Ctt-4.09 
i» 2- '.Om-oCo 4 1 
a3%:»%ow* sm 1 
:< b'.ottcwr, 
i-'. r." . Ii-meir 

■4' • 2% jrr.caEn 

■ii ' * !*■ 9«: l 

I.- • - ’Jvij' 

.'.i'l+cuj " ' 

4 Or.vle 4 
.% : :<p.C-r.:a 
— -N f-'.Cmsc 
2i%i;i,C5*iEA 
77 .- 19 TiullxSlt s 
-4,' : 75" , O-’SHK s 


J % 1*27 20% X 30 — 

. . . 173 l’% P% P-t 

IX ;c •* *% 3C% 30«, _ 

37 _ 4- li'*. ll 13 _i,. 

. _ 13% 12% 1:% — u 

.. _ 47:. 25 23*: J; 

_ _ i:» :o iv% 1®% — *» 

_ 42 33- "% f. 7% — % 

. 112 333 17% P% 17% - % 

2111C,' 14% 11 14 -I 

1 3 21 3-0 '.5% 14% Ji „ 

J - 74; i.< . 27% 13 -% 

. P ZeJU 7i 27", 37*. -*. 


0 28 k: ;i% 11% 21 . 

19 571 10*. 10 io 1 -, -% 

- *1 3P 36'1 av ,35*V:.— IV , 

_. 27 1831 17% 17% 17% — % 

- - 616 9% 9% 9% -% 

..221 453 6% 6% 6% .. 

13 18 55 18% 17V* 17", -% 

4.1 21 40 19% IV 19": -'« 

„. I, 282 10*, 9% 9% — '-I 

.. 2511275 27% it% 40% . iv 

. 3' 2*3 14% !4 14 

.. -. 9002 37 3. 1I%— 1 

.„ 20 7PM 6% *% 6*, - % 

411 35% 34% 35% -1 
1 0 25 '5 50 55 55 —1 

.0 231689&44!’. 24% 45’ , -IV. 
U E-L T: £-% F-. ... 

M li 74’ 42 21% 4I%- — *; 

. Il-’l 14 . 12% 14% — % 
. _ B- 5*. 0% 3% - 

... . U’l ’2 % 18% 15’-: 

. . 1 66 is ic <■ ::*• -1 

_ ?: 2736 :: 32 % 32». -1 

14% 14% -'.s 

_ 13 3v: i ; 9'.. !% -% 

„. 20 ::: it . u% ;s*. 


11 vyi 11 ruu ion*. _. 

_ 1512 8*k 7U BVk +U 

A 18 217 lAVj 16 M 

_ 3265 BW 8*k 8'A —'A 
34 279 15% 15V, 15*5 —Vi 

Cl 13*4 Rival AS* A 14 395 301 20 20 _ 

7i . <1 > , RocaSv 1.40 2-7 23 2950 66% 65V, 66% - 1 

l«i,Rbl°Wf - 39 643 25*4 24% 25 — % 

J 1 * j RaoiCS _ 277 16*4 16*4 16V, -W 

I" , li'-. Rock Ten A4e J — 736 MW IT* 14’A * 

31% TOWSioCom! _ _ 738 23% 227s 23Ve »V„ 

4s-- ^ Rs-.i^n I JD M 8 601 CTh 46*4 46% — *4 

3S |v , Roper s .12 3 U At 7414 22*4 23V4 — V, 

18% P'.SessSf ASe J 13-1453 15% !4’-4 15 

- 419 S*k 5 SW — W 

25 1D0 19V, 19 19 —Vi 

„ 2725 19*4 18% 19% *14 

14 994 7*4 7*1 r.“i * *4 

9 1383 6*4 BW 8% _ 

.. 12 653 14W 14'A 14'A ^ 

.12 A 24 564 20*. 20 20W —1 5 

J8 1A 152 71 20 19UIF*. — tfu 

36 917 11 VS 11 IIS -S 

8 2106 54 S 53S 54 r'.l 

33 182 25 24% 24% —V. 

40 82V 15% 14 W 14W — % 

- A0 1^ 12 2278 28 IT '. 27V, _ 

22%13%S:p=Uias JO 1A 11 1088 2116 21% 21*4 —'A 

31*, :3%5orxinc _ 14 875 22 W 21% 21% — % 

28*. ; Soolens _ 163 1406 5 4*4 ' 

54 12% 12*4 I 

2544 25 


“% 18%!’%RC5£Sf' 

- ii . ;>-.RonSv 

3 23% li ficrecfi 

S 21.15 RilAO 

— 9., e .Svav 
70'» V.'OWI 
22% ir-osa Svs 
-j,. m - ir.^£is 
— % 70% li SFFed 

_ 2: B'.liwV. S 

— % Vi%;~%Scfeco 
— % 33'« 10 iStila 


30 : 6‘ iScaeTcs 
:v- 34% li 


% 2B*« 

,. 22 12*. 

' 4 38*4 12 

V. 33% 18 
■l 54 *« 33* 

% 30% 17 

% 

:• ws* 

% 28%14%Seosc» 

i»% awSrcCaa 
39 34 SKC«B 

Vo IC% 4%SWrcer 
23% 1 1 % Seonmt 

% I a% 1 * "* 

r. I 2*! 


. . i»6is if it ;:*« - 

„ ?: ria :: 32% 3:% - 

*-• 14% 14;- 

_ 13 3*4 E ; 8'.' *% 

?o ::: 10 . 1?% :6-. 

ue .0 :i P- JI-. 71%iI'V . 

17 4TS 14% 13% 0% 

_ j! i?ii IV'.- a 18% 19' , 
li 2410 li*-. 13- , 14% 
*6 5.1 12 11$ J*% 25% 25' : 

16 JJ 11 1127 X% 34'. OS' . 

. _ i;- s% ®% ■< . 

. 4»w ;i *10% 

. _ i^. £>,••. 

i» 3.3 5 % 3£ - , :o% 

.. »*.! 1% »% e% 

:: Uu’9% :v is . 

74 ij’i ;i% jc , 21 :- 
jvi?*:- 3P, x% 21 v 
. r? ;s», 71% 71'. 

.. r Poe iw% ire i6% 

41 a 3.7 1» 14- 13 1:1, 13 

„ 3, 37*0 25% 24% 24* c 
_. 5? ?6 20 56% J4% 55% 


7% —V, 
% *V4 
10% -% 

I 

3% 

575 4 3*4 3 =U +V fi 

_ 517 17*4 17% 17% -S 

JX 17 16 703 23% 22V, 22% — W 


: : 

-S. : £'.< 10 
- I 70 
* ** i >5 


Shcwbi: 

snureord .|j e £ 

•eraGr. 


5S 

ir 

12 % 

?6 li Vnl"F 
32'-. IO'«Snoc3v 


- .>1 20 14% 20 *% 

37 981 15% 14*4 IS*. -% 

14 9?1 9% d 9*4 9% — *» 

212 23 'A 22% 22*. > 

744 22% 22 72'1 **4 

9% 8% 9*. 


■.vw'esi A5 3 25 1 


- 579 ... - 

i IV 5795 44 d41 41%— 2 

.. 19 1741 10% 9% 10% -% 

“ “' W*. 

9*4 — % 


i 2J 12%t4/ttiteSk 
7 , jOflirr.? 


:d". e stiErc 


B -"EIC 

i- iSitwPa 

ISS 


V53 37 
124 18 
54 42 23 

12 105 


10% 9% 10% -% 

□ 33% 371. -% 

0% 9% VW —V, 

23% 23% — % 
74 24% - % 

16 16% ♦*, 
17*4 17% *V. 


12 1W 

1 ! ijs, 6 itenirn II “ I84 8 7 % 7 

-% 78% X SonicCs _ 26 431 22 21% 21 

1% I *.i% 9 SoruCUrl „ 36 20? 12 IIS 11 

; - I rS’.lS -oSonc-^S M- IB 15 1563 20% 20% 20’ 

J 56' : 47% SonocP pf 2J5 4.7 _ 4 47% 47S <7‘ 

>• I :i%J7V.iOuYsli 48 36 9 10S8 18W — 

H I 17% 7' iSovBcd .10b 1A 12 3371 10W 


-% 17% 7' : SovBcd 

1 1 7*5. 16*,Sp«xeCO 




23% 23% -% 

8 V, 8% _ 

4% a 4V, 4% — % 

184 8 7% 7*4 —I-. 

21% 21% >-U 

IIS 11% — % 

20% 20% — *4 

47% 47% _ 

oa j« v iU3b IBS 18% 18 T -'» _ 

.10b 1A 12 3371 10% 10 10*4 _ 

_ 14 51 22% 22 22 — S 


_ _. 492 a 7*2 7% ♦ *4 

A 16 84 17% 1614 17 +% 

_ 186 6% 6% 6% — 

39 4 28 % 27 27 —IS 

14 ISO MS 13% 1414 - 

_. 1433 6 5*4 5% — % 

17 152 IBS IS 18% - W 
-13791 12 11*4 11*5 _ 

23 1125 32% 31% 32'* - V. 
57 17S 15% ITS » S 
1582 4% d 6 6% - 


S3 3 2»* 21 Vu —>hi 

A2 2A 8 270 13W 13% 13% — % 

_ 28 600 10'A 10 10 _ 

11% i'.Reti* _ — 1127 7% 7 TV; r-y, 

23 ~i 23*a RciOMC 5 1.J2X 2-5 _ 3106 44% 44 44 — % 
22 v-.RexSun* _ 11 991 11 v*v M io% „ 

11% 5 ’ ■ Ribilm >. -I5I2 8% 7% BW -t-U 


J 

m 

1 

iCr rn 



1 .NT*]; 








III 1 

pi 

1 

m 


ll 


J8 Aj.if’KV; 

- ^ W- tSYi- 2 

i ?-ia- : pia 

TAB iS 15 118 

.ise a ii 

AB A •W ASU'-JoS l' 

- HJ 324 . ink 1 

i 5-1? 

- !»IU 

AS U 16 250 2?W j 
AS U if 119*1. ~ 

2A0 a? 12 ’So 5714' 

1 AO X5 S 

- TO 687 6^ .1 





- - .1729 1 _ nj 

M ? 5 e-5TS 




<Ml.- ' 


- « 7X4 T4Virifti& t f 
_ 33 213 36 JSSjE. 

- R 3958 1 5% lS%i 52 .ii 
_ 16 m iSS 3S .S . 

= i igf SS-SS« 

H 56 TO ^ 

,97b 1A - 387U94S ft" 4sfc« 


32V, 16V, WL-R Fd J2 1.0 22 444 31' 
33%23SWoten, AD 1A 16 236 38 
13'A SHWAM - 20 3578 T 

60 17% Wo KXtfa - 38 193131' 


- 20 3578 7% 

= ■»» 
Ml AJ 9 423 ZlS : 


2S’tn20SWF5L A8b A1 9 423 ZT 

2S%18WWMSBt A li j 4N| 

38V, 12%WatsnPti - 21 1603 AT 

29 16SWartslns 32 J IB 435 -34 

35 JJMWdibJ'S J4 .9 17 183 28 

ITSMSWebcotnd - - 43 -W „ 

30 iTvWtSMBt „ 20 586. W Y U&.1K 

87*4 38% WteBHts - 44141B4 70 -7TJ4 

33% 19% Warner s .10 A 2D IM 2/UL 2tS Jt5 

22% 13H«IMMIor - 34 8 OT4 

23% 9 WNewtn AO 1-7 21 25 23% T& Dltri 

32 22%WsfOnes 32 SJ 11 2W5 MS Z7» 2K, +* 

34% lOUWsteots _ 27 1257 15% Mtt Mr3 

1 4'A 1 2U Weaterted ASa A — 585 13*4 

20% 11 WstnPb _ _ T20 11% T» I2» % 

30% 12 WxtWatr —1000 2 20 2Q -%'■ *4 

IVWllWWstSvs - - 548 lWSte WH _ 

10% »w*«on _ _ 1145 *■ Ty. > 

35 29 WnitcRvr - _ S a ' S J ' S 

25*414SWMFdS _ 25 1838 15» 15 - ttW*** 

30% 4WWWHty* _ 65 1288 12% 11% 

24%12UWfclcLu _ 13 247 15Sit5' l»*H 

59W 35S WiflanW s .96 2J 21 3310 4M-4T 4M>1 

39*, 9*eWmSon» _ 47 1956 31% mill - _ 

31 23**WUmTrs 1A8 4A 11 73 MVl B 'i - _ • 

76S 38 WhoCT - 25 57 TSS-TBS-JBErlt ■ , 

29'., 13 Wanawre _ 35 396 US »#.>., 

71 "j 16*1 WorttiB 5 36 1.8 34 641 19% IW M •% 


39*> VWWmSan* _ 47 

31 23**WllmTr» 1A8 4-3 11 


Jl":16%Worttios -36 1.8 34 641 19% 


57% 29%301|IU 
28 V. 10V. JGraxn 
18% 12 Xoedtie 
22*4l2%Xyloalc 
30 IJUXyplex 


30 IJUXyplex _ II 3 

30'*16WYe(towCp .94 5J 36 1001 


_ 30 2353 33 

- 23 4051 19V, HUW- i . 

37 934 ITS » 

_ 25 332 u 23 m znr-% 
-II 58 15% '15 1» 


15% 'W ljg -j* 

34S14SY0Uttkte ' 5 7W 

11% J ZtfleCO 3008 9W 8% f 

60% 23W Zebra _ 17 X13 27>* J5tt2gj-k 

28*4 11 bUlS - 19 1540 15% IS*^-? 

4W4 22 niOO _ 73 1751 35V, » »•♦» 

45V, 36 ZionBcp 1.12 V> 9 519 MS 

43% 15 ZollMad _ 22 - 731 18*4 16%. % +JL. 


_ 5 705 15 ■ 14S1«r-i 
_ _ 3008 9W 8% f 
_ 17 X13 27>6 35%2gJ-% 
- 19 1540 15% 15% gf -* 
_ 23 1751 35% MS 


iji; C 

taliate 
W/ t vesune 
2:'; wlhdr. 

board 
i?'I “Undo 
of eqm 
g ! 2 Miss 
extensi 
«;■ status i 
1?% ness an 
j*:- Stales, 
p-i Econ 
j5.‘ would i 
■‘f’ favored 
*|;:said, be 
i»:jas Fran 
fil:many w 
/?■; vacuum 
tyi Some 
’{' .maite e 
jj:‘Jnjrcs be. 


ii’jWC 

p'^Scoce fro, 

*1 Hon 

w.u Eost Asl 
;r :atnov Pat 

L.3wuttB Kar 
5 mino Llohl 

v; Jolry Farm 
■ ' *ano Luna 
fj'tano Seng I 
■ .rtenaenan I 
■- ik aw En® 
*'1K China O- 
;i.lK Electric 
Land 

3>-tK Realty T 
J.-15BC Ho kill 
y 'IK Strano H 
LPHK Telcawn 
£ IK Perry 
. lufcM Whan 
7- < nan Dm 
{{’araine Wati 
>r<ardlne Slrt 
'rJowloon Mai 
I'-Aancarln Or 
; :-4iro mar Hoi 
:1 tew World c 
?i'HK Praps 
v'-lelu* 

. '•wire Pae A 
■ al Cnewna F 

?;v E 

t^Vharl Hold 
.vino On Co i 
J^viniar inn. 

£ Lor 

i' bbev wan 
!-«i#a Lvoms 
i?rlo wiaaim 
■r/rawi &tvud 
:4»Bnt Foods 
■»AA 

2'otik Scotland 
--rarctao 


i«ijte Circle 
:.-0C Grauo 

Vows 

:.wwier 

;J* 

>rlt Airways 

JFiiGas 
i;rll 5leef 
; rM Telecom 

oOtteWIre 
udtxirv 5ch 
1 iredon 
fiats Vfveiia 
j*imi union 
jrartouftfci 
i^C Grout, 
Jiierorise oil 
.jrohmrtel 
-.sons 
’me 
:EC 

l*"i Aet 
jaro 

> Ond Wrl 

PE 

'Jinnn 

•Ji 
>won 
IhCown 
5BC Midas 


r 


AMEX 

Thursday's Closing 

Tables include the nationwide prices up (O 
the dosing on Wall Street and do not reflect 
late trades elsewhere. Vm The Associated Press 


17 Month 
HtatlLow Slock 


_ »* I I.’ Manic 

Olv YM PE 1005 High Low Ch'oe Hjpj Low Slock 


Ov via FE iLh H.<in L »Lr«rCT?-.- 


Etw lid PE 100, Koti LowLatesrOrge 


9U 8% AIM Sir A2 5A 

37 I6UALC _ 

14% 7UA1WC 
24W 20'* AMC pi _ 

5 1%, ARC 

26% 7? ARMFpl 
TV,. UuASR JJo 12J 

75*4 61% ATT Fd 171 e 4J 
8% AckCorn „ 

5 JWAcmeU 
6% 4 AamRic 
6S 2'4 AdvRn 
15*4 9*4ArtvMao 
5% WArfwMcaT 
5% 3'/i,AOvF^ral _ 

16% 7'.A1rWal 
4S IVuAlrcaa 
7U SWAkrnco _ 

12% BWAtouW 
IfS 1 * AHckwin 1.44 8.7 
2% *, [.Allin 
17 V, 6%A4UR Vi 
11% BWAHouH _ 

6% 2%Alona<n 
12’, 4i'.u AlptnGr 
1% Vj A, no . G wl 
7»4 4%AmcW _ 

T-i. 'nAmnim _ 

16*4 11 AFSIP7 I.SS 13a 
21% 17 AFStRn 1.S0 8.7 

25* 1 1B% ABkCT IJ3 6.2 
0% 2':AmEcos _ 

i'».. I'.AEin 
14': 3% AIM 04 I44C41.I 

16% 13*4 AIM 05 IAS 9 4 
14% 11'. AIM 06 n 409 2.V 
*5 1 1". AIM Me A3e 17 

47 3l J .AISrOOl l.05e 13 

17'. ll'.AmLnl s .Mb 4.7 
22% 14UAM4CA A4 14 
21*.14’.4AA*ZCB A4 3J 
I4'y 8% AmPau n 

6 l : APE'nvn .00 11.9 
8% 3% ASdE 
4% 'i,AmShrd 

5 T i.ATochC _ 

13’ » 7'',Ampai _ 

''-..Ampotwl _ 

li’ ■> 9% Am west J* 2.6 
53'. e*. Andrea s - 

I', i Ana 66io 
15% % AnoPar 14J0c _ 

6 4 3". AlTUhca 

14>4 5%Aoroenn _ 

4% 3'4 ArLLa J$e SJ 
Id 5 . Arrow A 

12'.. 4% Aftiyiti _ 

4% 2%AStrotc _ , 

12*. ■*,, Alan 
*. '..AH*M _ 

3 - 1 Allas wi 

18*. ?%AU(T0ClS — 

4% *i,Audre — 

12% 6 AurarG _ : 

?». T 1. 4»x n 


1% ’.BAH Mr 
S'. 2'*,. BA HO 
17’.l?’«BATs J« 
82% *9 BHC 
22% I6V.BNPBC .16 
24' : 19 BoaprM .66 
11*. J' .Baker 
S’ . 3%Baicw 
23%19'iBanFa 1.91c 
I*’. ID'-.Banslr g 
2'4 '.BrSFran 
2i'.2T».BTcv7>;nl <8 
.’6". rr»BT c.7 t 4nt,90 

--BanyHl 
2'. IVi.BanvnDi 
77 18%Bomwl .I5e 
,#'tl4V.BentJ> 

20 2 BorvRG 

laUIO'.BOVMCO JO 

6. Wi.BOVOU 
2' .B5HK nt 

36%29%BSMRKC 3AI . 
_3% I Bdmoc 

26% IJ BcncnE 

0 • S'kBenEvc 
10 2 83 '• :BergCa 2.00e 

19’. 6'?BclaWT» 

24% JIWBjnkAU Jlr 
18 10 B.0RA 
3' 4 r araphm 
i'..B4CHd 

15 » 11 B»ai09n IBS ' 
IS'. li'.BCAIOn ,79oi 
IS’. ll'.BNViOn 79 , 
2." . 18' . Blessing .70 
»' .■ 1 2% Blount A JO 

34 IJliSkrantB 42 

16' . JJ' rBoOd* 1J4 ' 

W> 19 BowlA JI 
5'» I' i.Bowttv 
.B’, la’.Bowne JO 

9% 7%Broa»E A4 

If. 2*. Bran On J7 

y% « yBranavw 
14 8% Brscn o 1.04 I 

4% 2v u Br0CkCD 
3\u " , Butt! on 
33% 6% Bum 4 A8 


|13%CFXCP Jib 4.7 11 12 

: 4%Cll Fin .. v 160 

i 7% 066 B4CI0J 77 

I ?>S5L'^ B - 111 

i l .CSTEnl ... 035 

; 10 CVB Fn J2B 76 10 3 

■ I'.CVDFnn . .. 206 

. i.CaR .. . 132 

29*.CaMwi _ - 9J 

> I* ii Canon n . 169 

■ 17': CanOc a .40 
• lO'sCapRtvl IBS <4 U 

II CaaRI3n 1*6 129 25 


46 BW 

2366 00% 
19 10*4 
47 71% 
157 5% 
57 23 
591 2*4 

86 64% 
194 7 

5 3% 


42 9% 

IS 3% 
858 5*4 


10 3% 

101 8% 
77 1*„ 

32 14’., 
764 15'. 
48 U4% 
76 1% 

12 4V, 

67 10', 

10 u 4,* 
12 7% 

35 S'. 

43 3 

663 5% 

10 v„ 
17 J% 
2* 14*. 
B21 U.. 


8V. 8% + W 
29 Vb 29% <-% 
9*4 9*. —V. 
31*5 21% * W 

□*»,. TV,, _ 
22% 22% 

1% 1*4 _J4 

64% 64% * % 
6% 7 * *4 

3% 3% ._ 

5V, 5% — % 
I*i 7% _. 

13% 13% ♦% 

% *4 — l'u 

3% 3". — 

BV. 8% - 

7% 2% —Vi. 
7% 7% _ 

11% 11% — ■* 
16V, 16% _ 

1%. 1% *%, 
6% 6% — % 
9% *W — % 

3\< 3% _ 

4% 5*. - 

% % 

614 7 

'*» _ 
11% 11% -% 
18’ ■ 18V. _ 

21 21% -% 
3*. 3% _ 

Ur, 

3% j’l _ 
15% 15% — % 
17". 1?% - 

17 17% -% 

« 45 — 

16*4 17 - 

10% 18% t% 
19% 19'4 -% 

9 9 — % 

6% 6% — % 
3"'„ 3>v.. — 

% % _ 
3% 3% — Vi, 
8% 0*i _ 

I',., l'u _ 
14 14 —'4 

14% 14*: — % 
3% 4% -v- t 
1% 1% _ 
6% 6% —'4 
10% 10% - ' . 
4% 4> . • *4 
7% 7% _ 

5 5. — % 

2*4 2% _ 

4% 5 
W, Vi. - 
.2% 2% •*.. ! 
14% 14% 

1 1'4 

7% 7*4 — % 
2% 3% 


23. 2*4 - V„ 
12% 13*% - 7,i 
74 74 —'4 

36% 26*4 —'-4 

20 20 —V. 

7% 7 ' . - 

5*4 5*4 — % 

20* 1 X*, 

13% 13% _% 
1 I — % 
21% 22 -% 
22V. 22W • V4 
', *1 

1»4 l'V„ — I'M 

70 20 

16% 14% — 
17% 17% **» 
IS*. 15*6 - 

*V'» 3"-'ll — V« 

J% 3% -14 
3? 32*. — % 

lv„ lv> — )■„ 
25% 25*. — % 
7% 7% . % 
89 89 -I 
7*1 77. — % 
22% 22% _. 
17*4 17*4 — % 
1*'i, lv„ 

2 % 2 % — % 
11% 11% _ 
11% 11", _% 
11% 11% —*4 
74% 24*': ~*h 
34% 3114 * % 
34% 34V, —I 
13*4 13*4 — *6 
19”. 19% -% 
3% 1*« —1*. 
20 70 —1*4 

8 % 6 *. 

IP. I5’.4 — *4 
3% 3% - % 
12% 17", - 

3 3- 

1*4 2 -*■„ 

3014 3D*4 * % 


IB I7H 17% —'.4 
6 5**4 5% -*4 

8*4 R'y . % 

?% 7'4 7*4 ■ '* 

1*, r<,„ IW— J<„ 

13”, 12% IJv, 

7% 2 21., . 

*■ *4 - '-4 

42% 42% 42”. - 

»*4 1*4 1% ■ *4 

]7<4dt7'.6 17*4 — % 
tl', 11% Illy — % 
12'4 12*. 12'4 


I4W 5W Carmel _ 5 9 9 8*4 8% 

14*4 57*4 Carl ntitn ..79 9 10% 10% 10'.. 

7”. TwCmanpf HZ I 4 * 4'* 4 " 

20% 12. CosftaA A8 2J 17 I 30% 20% 20% 

2B ?3*4CasFd 1A0O AB _ 18 23*. 23% 23V; 

I2T4 6%Colc0LI 13 16 10% 10 ID 

17 P-i CavulH j JU A 13 47 14W 1J*4 14% 


Vi 3 FrVSel n AO 03 - 
rk 7% FrVSupn . „. 


T4 2% FrVSupn 
2 VnFrVSo wf 
8% 3*4FrcaEI 

9*4 S’.«Fr«enlu4 


65 7% 2*. 7*. 


_ - 7 3V. 3-4 3% 
_ 2S 18 6% 6': »% 


— % 18% 1?' .Frtectis .Tib ll7 X 6 14% 14% 14' 


5*4 4*4 Centre n „ .. 95 4*4 4% 4% 

•A.CentTcwt _ _ 250 % iv, , ’■ 

S 1 •£9 3-3 - » 20*4 20 1 , 20% 

« 8J4&QJ0B J31 3 — 137 5*4 S’-. Si 

49*44P4CenMof 3_50 84 _. 720 41% 41% 41%. 
J7W ?4WCerlSe i.60e VA ... 23 16% la% 16% 

13*» S’AQvCm 461 88 _ 24 7% 7*4 7V, 

5% 2*.OiOcvA _ 51 1217 3*1 3 3*„ 

5% 3 QiPgvfl - 51 12 3*'.. 3'% J*i,- 


139» 6%OvCm 
5% 2%ChDcvA 
5W 3 OlDevB 
34*413 ara& 
28 14'ACHrtMed 


_ 15 TO 29*4 2?*» 2V": 
- .-i 395 24 23*4 J4 


1<% 6 QWPwr .11 a 12 216 13*. 13 13 

30*4 16*4 QieySfrs .. 25 9718 22*4 20V. 31*4 

J***24%g>Rv 1 JDa 4J 11 13 29*4 78*4 28V. 

21V, 13V.Oltef _ — 5V 16% 16'., 16*4 

32%25V.Qttlntpl IA1 7_0 _ 106 26", 26 34 

7 % 3*6 Olltas _ 26 5341 4 V, j% 4% 

29, 21 OkteSOf I JO 6J _ 14 22*4 23% 22% 

15% 5%OrcoPti _ 24 350 10% 10 10*. 

20*4 4".Ctadel „ _. 176 5% S*S 5', 

9, t 5ii“7 F ? -We .9 IS 3651 8'V„ 8>'. 8*6 
.gift .6% G’'7lnC _ 23 47 rt IV. 7-, 

40% 1 8% CtearC % _ 54 160 37 36% 36% 

3% %CllnK9 _ _ J02 % '••« . 

8% JWCoaaO _. tl >0 7’., 7i? 71? 


'/nOlmcp 

5%Coer5o 


22*6 13*.Cahu S J4 IA 10 14 17 14% ■£,, 1 

74% 16V. CalAp OfA 2J0 IDA ... 16 23% »'• : 


2 2, 3 -2^r I3JT .. B8 23% 73*4 5*. — 1 

7% ’/.OXOaTO — 44 427 4% 4% J7„ i 

6*4 3'vCoJLb _. .. 988 Pa S’- S% - ' 

10% 7'iCo(REI A8 4J 7 92 10 la ' |fl 

10*6 746 g0lUE no 94 T 9j| 10 38 9% 9% 9*4 

.i?’ 1 n .I4e 10 - 42 7% 7 7 


JS% 12% Comtek 

16*4 l3^"crSTum 
11 7*4CantMH 
33' » 5 Convrrji 
9*4 THCnvstE 

7 1 H.CoSSn 
17V.lT*4Crau 
24% 4*4&0wUU 
24V. 14*.CrnCP 
?3% 12'-'.5 tiCP B 
71% 13 CwnCr 
28% XWCrvstOn 
73% 19% Cubic 
16'.. 12 Curtoe 
3"., J’-.CuMttw 

4*. 'WiCvcomn 


5% ?%ORCA 
3% I *4 Dakotan 
7 *y Defeat w, 
8% 6 DanlHO 
4% IM.Ddomi 
11% 4' .Datoram 
7V. 4 DOb-.tr 

4 l'.,DO«IWI 

8% s% Donor 


nrtek - - 168 15 14% 14», - 

Rtrc _ _. io ’» i. -j 

Tam J0e 2.1 41 25 14 14 14 — 

fMn - ? 5 «' * w% 10% 

vrjn 2-301 _ 7 197 7*4 7 7 — 

—17 12 7% 7% 7% . 


-64 4 J 256 SJ 15% IJJy |«% 

_ 20 3 17*. nv 1*1, 

_ 19 38 70% 19% IV. - 

. II ~ 19% ig ,0 _ 

.12 a 23 148 W% a-, ici-S 

2 TOW 20% M'-s 

J3 U 91 JI 71*. 21% J|% 

A4 4J - 241 IS U1. u% 

_ 14 17 2*1'.. 

_ 739 l'„ i-. 


- - 106 3*; 3% J'> 

_ ^ 111 2'., 7% ’% . 

- 3M 1*4 I”. 1% 

_ 38 SI 6’.- 6': 4% 

_ 131 110 7> 3% 3% 

_ 18 154 5 4% j% 

_ _ 197 4% i% 46'.. 

_ _. ,76 1% V> |% 

_ 17 27 7% 7% 7% 


'□J? j; , *S9S ra ’ A0 70 1 19 10 * 10 * 10 * I' 


BV’V.DHQc A3 1 5.9 16 »73 7% P. 

3r4 7P4De ll-ab J4 1.1 1? 7 »% »% X*. 

■Sn ,L : *Rl»Z rr1 - 10 27 4".. rZ i- 

ZT 1 ^ ir lOtvnE 06 O J 25 251 23 1 e 23'x nv. 

4*4 7V.Drao B _ 70 10 4'J 4% i'l 

*■4 lViOkncan 790 5 r, . . 

r* X 88 18% 18 8 

ISS”?* - 22 440 9*. 9% 9% 

]?4g v Com _ „ 7! (.7 ■ 

8% 4%DI*riTTc „ 123 01 U8% 0% 

l4%12'.-.CirPeoD( U7 lo3 " 21 13% 13% n% 

?«^MJ»Oone»r -5 2-' » >' '*% 15% 1 5% 

low 7*.Dryv4tt _S< 6J 3 9 9 fl 

11*4 O' * DrylMu a9q _ 74 a% ... 

>«» M 6J Z is 9% v* t 

.■f'M J'- 5'^'?'” —8 10 4*. 4% 4% 

* 9 . 5S?t2' _ 56 14 9 9 •? 


*■/,, 3V.D*icom 
11% 9 Dude. 

4 WECIEnv 
5V» * WET. Scry 


21*4 ]4%EOOfFn .76 18 10 161 70 * 19% w"‘ . il 

48W30*4EcnOFpt 1J5 s. D ?6 S',. 34'. S 34% -7 


15% 8%EcruBav A7 .7 71 697* 10*. 111:. 10%" 

28 u 10 *S IJ'.dl? 13 
5 l".„E<IiSfD W1 „ _ 78 3% 3% 3- « 

12*, iUEJsto _ J7V 7 u- i-. 

8% 3 EtfiP* _ _ 3. 7% 2%, 

47’4 77%Eian _ 26 2?97 37% 31% i)-. 

32W 14WE*ani«f _ 68 18% p% ,J% 

36": 70 *4 Elan un _ _ 10 76% ?6% ?i% 

9% 6*4EWarod _ 19 36 6 0 8 

3*i l'VitEKOim 
8*9 2>4EIWV 
9% 0*6EIS«om 
4% 76..ENSCO 


_ ~ 25 IS 7% S’,_r 
— 25J 4 3% 3‘. - 

409 SJ ... 7 01. 8 % 8% .' 

34 3419 Tl-., 1% 3.;,. 


3!’. 7? ENSCPf 1J0 54 - 18 77% 77% 3-. _ 
21% TWEtnaB, _ „ 7032 17% , 0 ., _ 


24%13'..EoItoov 


- - 610 16% ls% 14*4 


16H nWEQGftil 2J0 I6J J9 40 16 15% |* 

17% low EaGltl3 1J0 14.9 .. 13 10% ID - lri, . 1 

I 9 Eeuusll Aflo 5.1 .. 15 13*; ij% 3% _* 


F4 7*4ESC«jn - _ *57 p'li cr-„ — 

JW ’.EjAfeFn _. _ 60 1% V.. t'4 .1 

13% 6 EtH-uA J8c 3J *3 I 8% 

•*** 7 EtZLOv JBC 2A 14 <0 10 9V, _ 

l"-i« WEyrJcnn .. . 10 ■*„ -. , _ 

21 154, Excel 32 1.9 13 18 17 16% _ 

l'Vr. VuExrtJl _ _ 7302 1% IW iZ 

6’4 3%FFP JJ8fl 10 19 15 4 4 i * 

3*4l''uPPA _ _. 10 2% j: k 

36 1 '. 29*.i Fdblnds M 1.1 1] X 34% 11 53', . 

r.% JWPcHftr _ 10 159 5% £>.-. r . 

IS BVaFtfcCBi _ _ 11 9V. 9% 9% .1 

TV, '.'uPorBMtB . . 334 % 1 c - .. .. 

39Jy 10 ntnM _ 10 787 31V. 7V. J9%— : 

JI 60%«no 3.X 45 _ 3 71% 71% n% 

14*. 9 FlAirt* .16e IJ „ 917 10'., IC*4 I0*y 

11*4 *%FAU5PT .99 9.7 .. 1579 10*- 10% 16%. 

7*i 4%FrCntrt .10 U s i« 6*i 6 »' J Z 

17W lOWPUOlV 30 1.8 12 1 10% 13’ , :n-, _% 

148 132'iPlEmp 7.00 1A 10 17*140 I39%|19", • % 
5*4 IJ FTP Ala .73 4.9 B 9 14% 14% , 4 ,‘ 

10% 6% Filter Mo J . . 55 8*4 r. 8 . % 

34% JWFWChP _ 125 IBS 23% 23% *3% 

I1V* JWFlawion . 5 4 5*. 5 S'-. 

». 14'wPMPUI I.M 6.6 13 5 17% 11% 

"^WtePleHc 1 , so 1.9 75 121 36 75% 35% — 

79%W,FI ukfi 51 U 33 1U 38% 28% 28' ■ ■% 

44% 31 For VC A .. 144 104 3<’A 36 36 

46H30T4 FortICB I.IS7 I 39% 29% 39'.”' 

gW TBWForsjLb . 74 1336 43% 42% 4?%_| 

*» ViFortPi wi _ _ no % V 

6*j iwPariPMs _. _ 110 IW li, 

5W 3 PevnPws . „ |J J J 3 * _% 

■ % S'.FrKAaxn .65 104 _ 4 4% 6% 6% _ 

6% 4%FHlREn -50 9J _ 42 5% 5% SW 


14*4 r,6oin»l 
18% a'4Gal,OH 
7% 2%GamcB 
36% 24% Goran 

6*4 l'/iiGavICn 
5% M.GavKTwl 
18% SWGektvSck 
3* i r-fCn&ra 
3% %&cnKinei 
10% 6 GnMUcr 
Ve "aS«nisc& 
I3*o eWGenvDr 
27*4 X GiantFd 
9 6'tiGttJ!;nCR 
17*, lOWCCWair 
19*, lSWGlarfli 
4*6 T'yOfilpcn 
17%U*odDSmin 
14% S’vGIablinX 
3% I*. Go Video 
1% 'iGoVdwt 
6V. r.GoWcpAn 
17'.. 8%GUl&larn 
i w Grand 
15 t’.Gkfian; 
X": 25% GorRuop 
KtOranoa 
7W i'-jC-renm 
7 i'.-.GmTeln 
22’ a 9%GrevLnc 
5% ■Vi.GrdnB 
■T' ,, 2*»GifCda o 
3% IHGHCdapr 
6' • 3%»GullU, 


7 C'i.HMG tyfA 
1 % i-jHMG wtB 
®% 6*4HaiEP 
3% I* ..HMl, 

7 ' '. 7 •'■. Haber 
1 S HonoOr 
r . ? HanOir 
' .. ' -Han wIB 

r . ■ Harken 
5 i - .HcrKr 
11% S'- > Hart*} 
21': 1' : Harvard 
«':?2 .Httbn, 
S% y .Haiawt 
3£ 74', Host « 

i% j HimCh 
19' 4 

;j’> » . HllhPra 
J'-r T 1 -., Ht:t>Am 
14% «• .nenmnd 
14*. 8 % Hc-co 
0 3%H-?in*Vr 
l'yHcirane' 

1 7 W l Hernia 

I?% IP.MngMa 

5*. i'.M.SnrTcn 
15% lJ-.Michtne n 
33 : 2SH M«h Cn 
l'% 1l’«HmcOi| 
10% 5*4Hcn*> 
15% 9 HanaHi 
% KH'llwtB 
J 1 . I KSUiBia 
1% ’..HcjBwt 
IB'-. 9'yM~.-i=n 
10 SV>How,tcy 

16% 9‘-y HuOCn 


j J’ ilCH 
l9’-il5*il£Hcf 1.75 10J 

I il-\ 15 Ja 

I S'K.. I%idcr.i;. 

! IS'.- 0%lmpHt, 48 5J 

MV J0% ImpCH o 1.80 
I 28% 13 InCOoRT J5c ?7 
; 4*. J4y mcr-icr 

11 '« S'alfeCVtCh _ 

11 'a 9';ipiMMVI Ole 1 

lJ'i 9% Imtron ,l?a IJ 

75*. S».in»oleTn _ 

2% iWintiaCn _. 

4*1 ISyinCPd 
19 i?!.lnFnSv to 46 
a I'-in'orTw 
23' a 6's'ntmrm jii i.a 

.5% l'iinFnDMwt 
13 a t'unlLMn- 
7'-. 3> j IntMur _ 

l'.atntPw 
6% 3S.RI5 
>'•< 4 lrrtT>.rr,n 
”• 4' : Ini 5 tOC 
r- ■ ".wny.im 
i? 1 '. iP’.mtPN i .lit- _ 

B'.iiihivmro 06 3 

15'. 9'xJodvn Jo 41 

9- a 6%Jcl>PCn 
18’ ■ 4’.jonEcn _ 

?' • 'I JC* ron< 

-2 9 Jonclrtt M 6 7 

3% i .Joule 
, 41% 28 JuONOl 
!7% ".KV PfiQ r 
IT’, ■” .KVPtiAn 

5- 1 1%6'auiHW IBB 17 

fC « 17%Kconcs _ 

l?w 9%Kerf«v jo 1.8 

3% 6'iK'pFyDG JO 9.7 

15% 9'aPClcma 

6- a :%KrvEna 

Sf» 3*.<.nan- _ 

3 1 . 'Sykirtn 
.E ■ 4 Klcrtrus 

.?'• 6"ak’nwca 
?> 7>«L 5E Ind 06 3 

v-4 J'.UVPBrttn 

2% '.LoSorg 
B'.Lcnccr 

17 -. li' iLaraour 98 S9 

.J'" 2 LnRiPc 

AMLCtiS 
9% S'-.Laww 
• I ?%LsrT«7t 
l - .. LsrTc v»t 
» 7% Lauren _ 

’ , 5 .LepihFn 
9% 5% LB EuT wl 

», LebAMGNfcfi 6.7 
-5 ,J.%LcrHJTein 
3= ' . 71 1 ^cv&RCL (1.31 7.0 
"* *Lcr.Tcn «t 

22% l.',L.H/ern JO .9 


ii m ?% «’i 

- 5.’ r 

73 21 5% V. 

9 d? Si'. JJ?, 
~ 292 1% S 

1* ^6 15’: I* * 

10 3 8 0 

- 40 % % 

14 J6 13% I2W 

14 1 87 71*. 70", 
y .1 i ; 

n 563 14% 14’. 
X 178 15% I5W 
~ 7 7-,. r:„ 

.. Dt l2'a 1?'. 
99 174 10'. 9'. 

_ 337 7% 7-.. 

_ 32 », 

10 i t 

_ S3 17% 13. 

11 15 1-i 7 ; 

14 2 26% 74% 

2 2% 1% 

47 19 4 S'- 

- 73V 2-. 

. 119 '.0 : 1C a 

~ 2 1% r. 


40 i-y i' , 
.6 S % 6' « 

IM 4% 6% 


r» :ut*-i7 ii ., 
«: i% I*, 

f' 7192 X'. JJ 
. lOU 3% y . 

... J 31% Jr. 

11 10 J% 2% 


. ii : - 

„ 22 12 . 1.-. 
40 ? 10% lj:„ 

■7 V . 4' . 

- 615 J'j ’ , 

.. 500 4\ 

_ 1A» l’% li--, 

7£ J... fli 
114 15'. >5 
9 65 29' ft 75% 

— I IJ*. ij’. 

.. «l ?% a 

? £ 
z j?? 

U 27 :i% :: . 


_ 3M 5J. S'. 

- 102 P% l'% i- 


_ 25UO KVriJO', yy . 

I TO'. 7*i% M% 

» 22 2% ; . 

.„ 272 1 1 1(7% i’.. 

105 10 9-, 

23 13 10 10 ic 

_ 278 If, Ij% 

Z I" J’j 

9 16 :s% ij- . ,v. , 

. *;» ", : V 

9t- I'jr lj:, |. 

jo :% T-. 

„ 94’ 4:d7% 

72 Oi 5% S% ... 

ll Ji ft ft A? 

11 *7 *'* ?'■ >" 

» « r, r. t-, 

„.S 15% 15% 

14 3315 P>i 

_. 51 17% 11% iji. 

... W«r, 9'.- V. 

i P. 

21 l i . l .. .. 

43 4', 7-„ .. . 

16 li 3'.. 3 3 1 .. 

Z 5h 9% ~ J' * 

. S‘. 9 t'y J 

II ' J-: - .. 4*,..,. 
7? 107 3>% iu 36 - 

ll pi J: T: 'V : : 
S .! 'ft 'l. 'ft 

IT 4? i-. J« . J.* 

n ic7’ ia% %% if., , 
. : s 4% i% - 


: ii taxib 
H 'JT tc • 


T 7 -. 5 L.tndi 
: :%LoriCc 


4'., J',.V.C$np 
T : vf.'JBPr 
3 H • Mi * 


Pr. lie Pg lft,i HVt.t Le* LCcs-Ot 9e 

„ 11 1042 i% S’. **«-l 

... _ 41 41. 4% 

_ 14 70 9*6 a-, 5% .li 

- 12 Si 9% 9'.. 9 -a 

. 7 13 24% i»>, 14% — *, 


- .. <55 3'-i. 3% 3'.. 

_ _ Io I % 1 • • l*n 


U’ |t:%,Mflrt<Sc -A SA 14 I*’ 12 
J” .IS-.MePi 1 ;i 7J 3 3 16'. 

•2 5 .VvnHrv .. ’ '• • 

2% I r.'.orliir. _ _ «« 1% 

TiWIJ'.VJauiJiEn JJa 6.1 . 19 !J% 


11% 11*. 
Li% 56% 


-% ;i%IJ%V4K2>lErt JJa 6.1 19 13% li': 13% 

— % 16% 8-',’.vj.Tu3< _ 74 X 9% 9% 9% 

— •« 44 w 27'.« ,'Aa > am _ _ 71 33% 33V, X’.i 

' _ '* V-..'.Vf4cP _ _ 51* 14% 13% 14'-. 

. 14W S-A'.lcdara JOe 7 A 3 10 8'.: 8% 8% 

- ** 21*t, H'.MM.O A4 1.9 72 110 23 53 73 

- % TOW J-'. V.etfc’d.'JS _ 5 94 Ta 3% J» K 

— '•» :*. Li-VMPm _ . Wl J d IV, 2 

... 4... 3*--V->;i4 .126 3.1 63 27 J'.„ 3% J'i 

-** jS.J'-iMcni. ... 10 4*. 4% 4% 


- ■ ] ..% ii%;Arch-..o .I5e 9 10 162 16*» 15% 16 

— % I .. 5 a 4% J’-, *■ 

- % : 7*1 l' »fcWI4 ... _ 25 2 2 2 


4Tb?'* .fcVrP^p: _ . 

7% W-VP" .. . 

5': 3 McrPTpr _ _ 

I'-., %.W-rPrn2 - _ 

5% 7 M«V»;0Dt _ 

6% 2*-uMLH5: wt 

9'. j MLUSTwt . _ 

5',7’.i.VlLD7Apw: _. . 

I }7, J’ .rtonric 40 3.9 * 

H'.. ®' ,7.’c1rbk M 3 3 V. 

i-A 4%v-piPi[ Jfeioj i: 

9’.; 4' .MfeJlAjIt ... ( 

9*» J», ViAtnirv* u 

II 8":'.MPr. n 2.® . 

4" ; 3^ : -Alfjna .58 1A 1 

7’y 6 .MilwLJR _ .. 

'5% i;*r rjunnMu n .03 6.7 . 


21 J",« i% V-a 

9 ■ 

IJ 3-0 5%. 3% 

2 l"i» l'u I'.. 

13 J 3 3 

I 7% a 7 -. - 

15 9V, »■- a-. 

85 3% 3 3'-J 

71 10': 10% 10*. 


.78 SJ 
UJ8 6.9 
*35 7.1 

1.80 BJ 
1.120 73 
l-2Sa 65 
JJ6 8.7 
1 AO BA 
l-M IJ 
1J8 BJ 
1J6 813 

1 AJB 7 .4 

1X8 8.0 
1.04 7JS 
1X0 7.1 

A4 4.7 
.91 a 6.6 
•69a s« 
JO 68 
930 6 8 
•OSe .9 


11% 9'jM.RnTr: 

13 7%..iooo& 

■ 5", M.IVM 
J 1% Moron? 

J'« 7 VViJfPWI 
J-A lt..AA91M!bir 
11.. b , M-jn.lt 

!»■; E-- ,AlvmrrV 
I5'« li'.'.'inVn 
15 ll AVklAZIn 
IS 1 , 19 MvurlM 
III; 14 flFC 
II' , il.NTNCom 
11% " NVR 
t’ 6%72*KJr: 

a% ft' .fJHItC 

5-*« 7- ..tltP-Ttm 

1.1% 2 wmar 
10% « *n-V..4: 


M 3 3 II 200 16% 15 15% — % 

JVelOJ 11 ! S% Sr'% 5% — % 

... 8 1IC S 5 i -■<„ 

14 11 »■, 61. 91^ 

2.9 .. 9> , ? 9 — 1 j 

.58 1A 9 1 37%a37% 37% — % 

_ — 7 6', »'« - '-. 

.n 6.7 . 77 ii".- 1:% ii*y — % 


-59 61 - 

57 
... II 


10 9% 9% 9% . 

4 12 I? IJ 

17 17% 12% 17% - 

T » I".. 5’y 

SOU 7*9 7- , 7*6 


•54a 5 9 . 
uj ’ s . 

-tia bH . I" I? . 17 : 12% 

7.1 45 I?., 12% |2V. 

18 10 14 31 la% a 19% 18% 

efeiOKJ? ; |6% r*% 16% 

.. . 1718 i% 4% 5 

. - 65 7'. “ -j 7 ’ ■ 

„ . - 13 2533 6' , 6% 6’ . 

•Jab 7.1 Jl 1 16'. 16% 16'-a - 

00 iC JS 16 ?V, J6% Ja% 

- - 147 3’. 7' . ;*,. 

. 25 ?.'i 10% 10 10 

. 1’ E 9 9 a . 


._ 1 ;j% la'.riY&cpi Bob i 1 m 131 h-. i-.*, |9*. 

— 1 . 1 17*. f%t4YTEl 64 ta .. J 9% 9*. 9*. — ' 

— % Jl'iCilfi Tm _'■& 2.7 61 1164 I5'5 26' . :5% -■] 


8% 4%N.em-A 
f, 3’»N-Jil^ 

<% 7’yrl;i...<m JO i.t 17 

11% 8 (.«-:■ - 2 

6-a IkjNAPeev JS 

4 NATrn „ .. 

15% 8%N6V0CC „ - 

I.’ 1 • IJ •. Nlnbr .40 2A II 


1 60 S% 6'-i. 6 

28 4% 4'., 4% 

34 4 % 4 Vo 4% 

» 9% 9% 7% 

JJ .’% 2% I*. 


6J !3«aN1PSc1 4J6 ».l _ WJ0 S3'.dil% i?%— 2 
'% 4 -» Nvn-.ne _ . ;-j »■ . .% ... 

15% IP' :?4C**Plr. Jin 6A , 43 11% Jivil'i -% 


1; • a IPy'KAVO n sla u 
IS-% ll%NFL?m .75 aj 
IS-’alJ'aKG-Rln .74 S9 
•S' : II NMCPUn A3 5 6 
iBWir-kMoMIP? 7J ij 
IS'ilT'aMMCFln .70 S.7 

■3'.10%lJW-i V.l .2* 6 6 

ii..l0%;-r..Rin .74 6 8 

It 1 1 W MvOHPI 78 41 
16'-, lO-v.rJCHPii* n ta S.9 


05 10% 10*9 IC*. * 

17 II’. 11% IK. . 

S7 IJV, l?«, 

S» 11% 11% IM; - 

12 1 1 >i 11% III. * 

I 12'. . 12% 12’.. * 

5 It's 11'. 11% 

JJ 111. IO‘. 10 N . 

27 I* 17% 19’. — 

17 1 1 ■-, 11 ll'-', - 


15% 10% II V API In as 5.’ 15 11% 11% III, *>„ 

—-J K-.ll'.KjrWA 1: ll . Itl t:% ji jj-? . 


6% 0% a% 
5 1 d 5 5 

.5- : .5 U 

43 -4 73', 41'-, 
?4% ?J'. Jj% 

7% 7 7% 

2IW II . 71% 


14% 4' :OOki!0 

' i.OBfK.'n 

1; awcrsuusw _% ? •> 

34% 27 OUlrn J4 jf 

puOhn, *t 

it% tiipn-L'M >:v 16 0 

1 W*. la'-.C^KLDQl ! 60 «A 

I 3’. “.OnWoE a 
I '.i-, »%rjf-3non 
! ^j'-,':-7Cr.cn' > .^IC 8 

7*43'l'.. p l-C in „ 

I 3-. 7 PL.V 
li'.IISPVIC 900 6.1 

If. t4*.C*.nP 160 10.; 

tr. 57 4.-u» 7 6 

rj-^ 16HT. PC-Eo-A ISO 8 0 
Jl% I*’ .PC-EWB I.J7 0.7 
P',j le'.iPC-Ee’C Us 7 8 
19%14'aPGbttD IJT 03 
iM.MWP^rlE OS 3 3 
rw - : 14% PGEu4G '30 JI 

13". l5%Pi:-F?»H 1. 1? 0 3 

it*. ;"%A\VFpIi ij* a 3 
.TrSkf'e:*.! 1 9* 8 3 

.%% 74 % PGfpFl 7.00 6.7 

20’-* 74 PtiEt-lP 2 05 BO 

V(K ; v SC-PclO LB7- 0 1 

2V.2I ’ap.jEn'J Kl 80 

I6%»V.-PC-Ep1X 

10' . IbWP.icOllrt 130 10 

>% IWPdOCAm 

IK. • P'A' i-t> : wl 

>■ 1 r* pwhh R-n 

5% 4%=WH6 JOwt 
r. lH°WkK Mo— t 

in ■ s*b«W5Pn>ran 
? . ji.piwysiw* 

I PVO.W41 

’S -ir K% vc.VPI n .71 6.0 

5*. !•*,. PatfiHI.-* 
ls , ill , jPai p la .®ia 7.c 

■6 llWPcrPl, 1.33o -.8 

tp 13 PerO’J 17J <7 

va' j li-wPcaGra .10c 6 i 

52’*; 65 Pc 1 00a 2 0 ! 

45'. 34 Pcanrr ■ 

T2 PcnFE tea 03 

I3'4 9%FrrlniC . J 

75' » ?t PcmCrt Z12 9J 

4% I'lfPtrtci". . ! 

£5- % 3-1 ".PHILO .3 : 

7 Pnn-LO. 

4-, 1 v.Pn»N.il 

j0i.2>%Pnn*Pl .05c J 

5 l'.P.cnPfl . .. ’ 

c. e'.PoW vm 62 ’ < 1 


! IV. 7*9 9% - 

j v! 9% »'I — ■ 

1 ?v*. 36 7»% 

1 2% 7% — ' 

I v*» o*, a*» — - 

i I- 17 17 — ■ 

1 r. p. -■ 

i 14% 1JT, IJ', - ■, 

?i% 2J*.i 24’» *■ 
iW — ■ 

1 » , J' ., 3% -■ 

' 14 * 14*. 14% • ' 

, 16% 16% IS'-a 
• J*% ‘3'-* 58% * ' 
b'. IO-'y »V, .« 

I iv% K'-, 16% . 

, dl< 16 
I5'< 15% 15% — ' 

I ]S’. 15 is *1 
IJ y 14% 14". 

*3’ ■ I J' : IV • ’■ 
U%dl3'. 13% — 

1 -- 1 7J*a 7JI, 

7-1 • 2J% 74% — * 

-5'- 35% 15% - ' 
?;•% II ■ V 

ji, »'. : 

• 17' , 17V. . i, 
3% 3% 3>i 

5% .1 S% 

■*':«. J *u 1% -■ 

iV. 

■•% r a ■>•■» , 

7% k k ’ 

l-% !’■% t'"« — 

V - It *■».'. 
!•'% 17% 17". 

■ '2*. IJ-. 

J5. Ii% 15% .0 
% « li'y 14% 

■J® • ■»% «% — % 
ill - * «% -w 

*!'* 77*. 22% —i . 
17% 12' i 12% ..’ 

.’2% 27% 77% 

4-V J% 31» % 

'7% '?■ ‘ 7-.J . r,; 

«% 74% fl*: 

3 l-“ ?% 3% — „ 



j :: /.Lnt-I 
I H zn L7»v Crac* 

T» T3’ j Piirwov 
34% K-fPiftwvA 
13% S%PlnR&: 
25*. /loPIvGetn 
3*. iWWytl A 
0*» S'.PirRB 
M':2e Polrlns 
-% %°nl»pn 
17% riPwgys 
15% ’t.? r3OTt | 
I'.. 1 .rrjcLa 
• , -: Prosd A 

7% i-»PresdS 

"1 4%Pra&7T 

?T% ?4%Prvgno 

64 57 P3CalDf 

ii to iPbSte 
17--.14%Pb3t7 
20*1 l6%Pb5I0 
OT'.lP»PbSt9 
13-6 15 PbSIlO 
r?% 14%PbSt ll 
18% 13%Pbi' 12 
19% 14M.PBSIU 
15*, 11’aPbStlS 
ifr%i;%Pcaie 
16 U'.«Pbsri7 
is , '.iov. p byiB 
12% 0 P051 1 9 
ItValOlkPUtnCA 
I5 *b 12 PIGIM n 
15 11% PtGMTi n 

IS 1 -, 1 319 Put MY 
»S% J**OuolPd 
7 4": RBW 

35% ID RM Ent 
» IWMfls 
14% 8V, RolFn 5 
3"u IWRetSO 
79 73 PoCLn 

6 1 . 2% Redraw 
V*. I R<flw wtB 
11% 5**F:etac 
6% 2’*Pcllr 
S', K.RceGMo 
l< I0W Pur in 

3% 11 % Pa tin: 

J 7 R«»CJ 

3 IWRSPTcn 

7% 51, RerMn 
7*i, l",Ricttlctn 
5": I*, Riedel 
ft. 4’yPlMr 
5% li*i. RodOmsf 
33% l6*«fta0Lri 
• -.Rwoth: 

/ 3*i,RavalOg 
3"(. ; aR»rno: 


3 J'liCBca 

0% 5-9SFM Z v 

An SsiSr - * 

4% 7*.3Ptn - Z 

l«6all%3PIPh 36 ij it 

21%ll SoaoCom „ « 

18% rv.SanGami „ 

■,'k %3oftai3pf .ost 6.1 . 

'*1, ' , Saint wl 

4% I31*dOfO£C n 2J3 9*7 _ 

B5V, JS", jOk-fWPr, 4.01 SX ._ 
PT/, 76% SctMSFT 03.99 47 Z 

35*j%ssgs& nlB -■ 

ft]? SSKfb i:S8° l? : 

29%7J‘ .sOwMH 183 7.9 _ 

M !? 

• 96 u 17 

i:;.« r’jSr-'wo 
7% 3' 1 Ccnoi 

1 ■* 1 1 1 1 ! ^CflUlI IA l“f ll 


Oiv >Td FE IMS Hah LowLgeJQl'oe I irJa ON Boat 


M» YM PE im Koh LnaUteJOW 


37W 37'.* 
36% 36V, 
6 SV. 
21*9 20% 
9V, 7V» 

7% 7V* 

BVa 32VS 

5% ;*a 


V.i — V, 
36'.', _ 

2 f -1! 

7W 

7*4 ... 

33 *-W 

SV9 *lk 
9V. -Vb 
JV, — 49 

■ .. , ., — *1, 

1*%, lt„ 1"« _ 

iv. 1 % k5 — % 
5*9 5V* 5% 

16 OISW 154, — % 
60 58V< 59% _ 

31% 21% 31V. *■% 

15% 15*4 15% _ 

19% 19*9 I9VJ 

18 17% 18 

16*4 16V, 1699 - W 
16*9 16 16 — *9 

16 ll ll * W 
16** 1 6*9 16*9 _ 

14* 14*9 14H - *9 
13W 13*4 13% +% 
13*9 I3W 13*9 - W 
W 13*4 14 

9*9 9’A ,9*9 -V. 

14 13% 14 -*9 

12*9 I2W 12*9 ♦ *4 

11% 11*9 11*4 

13% 13*9 13*9 *% 
5% 5 549 - *9 

6*1 6*1 4% t-W 

35*4 35*8 3544 *(4 
1% 1*9 14, 

10 9*9 9% _ 

1*9 d 1% 1% — % 

24% 2329 23% —V, 
3Va 3*6 3*. —49 
1% 1% K4 — W 

7% 7*4 7% _ 

314 JXm T,i, _9„ 
3*9 3*1 3t/i, — i/u 

1SV. 12% 17% -W 
1V M ?■„ |».b _ 

3 3 3 — l. 

7 1 "'* 7"., 291. — % 
.51. 5*1 5% 

1'4i t |IVu l'V H 

1% iv. iv, —19 

8*a e% 0*8 - % 

3V, T-h 3V, — % 
32% 37’. 33'/, -V. 
*# 'V„ % -iv 

4 3-Vu 31 Vi, —19 

1'9 1 Iv. — 


19 9*9Thermd5 _ 00 

Z3*i 8 WThmCrd s >.083 

16% SWThmFij _ 48 

34*9 25*9 Thrlncls _ » 

1119 7 ThrmPw _ ss 

I0 1 -. 7V;ThrmP _ 40 

75% 12WTherRen .T5e IX - 
16*4 9*6 Thfmfx s _47J 

v. VnThrmwd _ _ 

30% 5%ThreeF 5 _ 29 

r.n 2 % Tlpoerv _ 21 

1% '*%To"jm - 33 

103 09 TdEptA BJ2 9A _ 
5* 4l%T0IEpfB 4-25 10.1 _ ; 
106 WWTolE pflQ 10X0 10A „ . 
9*4 7 Tot land _ n 

V IHTooSroe _ _ 

VVn 1 TorKH _ _ 

'51? TodPcI .15e 9 14 

3*4 2'4TotwnCIV - 33 

6% JW.TWAvfg 

5 149TV8A ot _ _ 

10% 7 TVnsLx .14 TA 26 
,2%. %Transcan - _ 

16 l09*Trrnn .18 IA 12. 
14V, 11*8 TmmB J4 V 12 
7*4 3%Tri-U(en 
2*4 WTrlUfevrt _ _ 

11% 5*9Trtdcx 16 

3*i 2 Trim recti „ _ 

V>TrDAG95n A3c 4J _ 
'0*k 8%TroAG97n MO 73 - 
2% 1 *6» Trilon _ _ 

•% VuTrttan wt _ „ 

A*. 4 TubMex _ _ 

29%17*4TumBA X7 A 09 

29**1 7*9 TipnBB X7 A 9 

13 *»'.TumrC _ _ 


.18 IA 12 
JM V> 12 


»«»*!:■ 

- 

im 

a « £ c 

wp 

'Hi! 


3 3 

7>*i. l*v 
,SIa 5Vi 
l'4i, l'Vu 
1% IV. 
B*a S% 

ft ^ 

1% 1 


.12 2.0 12 
-96 i> 17 


»5 5% 5 5*9 

.K u ?> BW 8*9 
ll> 2*9 7'.', 2*4 

JOS ]% 31,, 

10 3% 3% 3*9 

*4 16% liiVi 16% 
a 13», |3*h 13V. 
141 v a*. (P4 
57 a, 'V„ ■*■„ 

1 *u Vu Vu 

11 26 25*5 26 

7 791, 79 77V, 

513 85' , 84% 8SV. * 

24 31% 3)W 31% 
27 25% 25% 2549 
20 TVi, „ 314% - 

M 10'. 10’4 10% 

8 12*9 1349 12*9 

2 24 24 24 . 

,43 *% 6 6% - 

118 9% 9*9 9*8 

1« 35% 35% 35V, . 

40 1 % I Vu Tv„ . 


u 149 US Ale _ _ 

19 4WUS1MC _ 11 

IB' .USFOP 1.90a 10 (7 « 

f, 4V,UTI Enn 
h 2 Uno-Fn 7 

ij 3V.UfKMrt .10 1 3 12 

. z 

11 l%UFaodA _ 219 

0 l**UFoodB _213 

1 S*9UMabH AO SJ S 

4 5% US Qiovd _ _ 

4 2414115 Cell „ _ 1 

9 5%UnieelV _ _ 

9 17*9UN!T1L 1J4 45 10 

9 JHUrtvPat _ _ 

h 49VTX - 

. 10'9VolFro JO SJJ 12 
, lo% VKSeiSn M3 73 ~ 

10 VKCal JT2o 7.1 „ 
allWVKMAdZn X3 7A - 

T2%VKFLO n 79a 6A 

11 V,VKNJV n 78 a AJ - 

■ 12 VKOHV n -77a 4J .. 

« 5%VP.EFII AOelOXlX 

*!* XBgp l 1A9fl24.l 23 

> *9 VtRsTl _ 

« 2'iVerior Z - 

: 24% Viacom _ 23 

■ liwyiacS ._ 22 4 

1 L.^ rcfeK A9f 5J — 

■ 5*9 Vlrco X4b J 8 

■!2^X°7AZ .820 63 _ 


1 A® C24.1 23 


6% i%;«mpck 
3*. KS«niai 
■ 3WJCTVICO 
’ • l%5hetidMd 


16 1.1 12 
1-00 A 1? 
70 1.6 15 

- 24 

- 125 

- IS 


ii 1 * ->is™35: ■■■ - ^9 , * i Mn, T"i, _ 

?% iwUSS 6 - J ft St* 

,i* '■] j? a ii% 1ft 14% :'x 

-W 15% J'.iStaT w t-5 J 2 179':17B 178 ♦ W 

1 ft ?%:2SF*k ™ ,6 15 ll 'ft ’ft 'ft -Q 

Kf l"..5emrcn Z 125 40 2% k 2% ~ 

l%SSe«Md r '* E 9 s% ft ft ” 

« 2 1 S 'IS 'S’h ^ 

C*BE 

^'fcssssr* - 1 1 f%‘ - 15 


l4% 7";5nltCms nj 
0% I'lSnwdCc- 


9% 4', Simula "3 

40 ro'-.icitii J3 1 7 14 

11% t'4SmJBIn a0 a 61 

11% I31u rjnlBrmi .89 a 61 *' 
7% 7%5cttnel - 

J x-* ll’« jCEdpiB IXI 84 ~ 

IS, I5?«p»c 1 £ U - 


■ -49? 5J _ 
. 5% Vlrco .04 b £ B 

■ 12%VorAZ X2a 63 ~ 
*'3%VovCpn tv i? - 
. ll4aVorHa X 65 . 

l4%VovAVI .93a 6A — 
> n VarMHS Aa 62 _ 
» I? VoyMNSn 75 13 - 
: 19*,VufCCp 30 U 11 


2^9 17*9 WRIT 

?jg rwzii?' 

i‘rt?4oa 

8W 4*-.WstBrC 
15% 12V.WIRET 
2% 'WWOiRO 
,a% ,>WjmiRs 
78 63*9 WilP ot 

2&J&BSS5 


1 1 r tl* 

i ? ss i g j: 

: |j|I| : 

! 3 1 If •S’: 

!l|P: 

1 7 tit: 

JJ Jf3|' 

Ah aw 37% iJ - 

155 V *5 SJ-B' , 

% li 

17 14*6 J4W ]££ it I 

Tl H “ B* *W« 
191 30W 

js iSt ££ :: 

is IN 


?J%!Ue5PUCOi y 

S’. I’-.CMrtcn •: 

JJ, J’.SacOim ' J 

J': 2%SpKi»wr - * 

£ j MWl-l .15 JJ -Pi 

‘MyrfPtff 1196 73 

7* '■» an nn on 
6% Sir icon Kelli 
15^ 5v*5>eri El _ , j 

5 SloGpA Li 

*% J 4SiwPr l.oo 71“ 1 
11'-, JWitrumcr jr 

;•* 5Vj Shrlcvid “ 

17% 10%3umrT9 X4 a"'.' 17 

4% 2% sun Clr ft 

3 + ?% 6mair Z » 

5% ?‘a5unNur _ 

'* * 9*95«ndwn _ fi 

3 -a I wGunEngv 
J • f’-BunJr ~ 

13 -l llniSiSWira 9; VV fj 

3%-Cuprmind IXOI “ , 

• ■-' WSuWnwt 
■ * ''uSucinun 
6 4'i.u r-ex>. pwt "' - 

11% ? % TIE "■ J3 

111. 4'iTllS - ™ 

4*. 2%TbXCA - 30 

1^! -M id a 

5". 3'*Tcan - H 3i Jg 

ft sssst “ « 1 

18%13i»T 0 jrrfI ,| 0 'J 47 

57 36 Tcfclfo ji O S' 

If. '7% T cmpG U jj _ 

%u *u Tenney - - 

3'-,Te.Blvn ' 

13% 7*9 TpXMer '“ ’ 


« 12% «% 13% -V; 
IO 13’., 13% |)% — % 

2 14% I4'4 14% 

.1 lifv 17% 17% *% 
is 22% d 22*9 22*9 — % 
« 18 -a 17>^ 18 — % 

*9 4% AV„ 4 Vi, — Vi, 

1< 3- 3% 3% “ 

35 3% 3 3% -% 

3 4% ii.-, 4% 

29« 44% 44IJy; «% -. u„ 

1 T\ t 

1« n% 

5 4>A S*i k '2 

,51' 4»i r% 

14% 13% I3 ? 6 — % 
3*9 4%. - 'V„ 

'5 2'j 3% L 

4 2% -6^ Is. 

37 3% 2% 5% __ 

IV Ja ' ’I' 1 1 % 

« £ ft ftlJi 

-s '15 'ft 'ft-> 

l '% k 1 '£ i, r * 

S ft p% 1 ft =5 


.M 2X U 

■SI 3i lb 
... 20 
■M 4.0 13 

.10 7 2? 

■a* -« 54 


JJ 7% 9 5 

I7SU1S 1 ', 14% 1 S'-9 ■ 

10! ? 1°. 10 

'm '4 'ft K 

™ 11% !?3 ,'ft 

9W 3BV1 M 
« % % % 
s « iklft 


iSTnilSJ'iSJ” S?* 0 ** Pluoiitecui i#nt wne* r a oira»g^ ».g. 
JSS25 dgv^Whemqowit or idoc fedlyide P d5»°g“ SS,d^i 
jetwt or more has paid, B» 9ROT8 lUB&gJ^Sap ■ 

for the ten stockogi JUMWhMSS 
"SfeawofdMBwdi ora omwddWwMi^ 6 ^- , 

™ ^icnitlorL "■ 

Q ~ dl vkdend olio extroli). " : li ■" i -nu L , 

c ~ ^ « v Mond Plus start 

c^MauWBtbiB dividend. " . 

d— newvwiviow. - 

&— dlv'gond dctiarod or oataJn pr»c9^na22 rP9 w*S^aK 

0 - d 1 v idcrra ra Conttalim iwids, ect *0 

! ~ giv|q«ta dedored offer aplIHip or start 
MkBn .oi jates t dividend meeting. 

tajasasasB s— 
y , B3»si^"’^ T Pir£TrSaPi 

— nc*s bay delivery. ' hfSW 

7 — dividend dedarod or oatd In u rBCt tf* * W nUff-ffl : 
slock dlvioena ” sr|w,m .-. -5=52*; 

JjT iloc . ,c s*"’- Dividend besta} wttti do« tf »» 

—?*!*** »WJfi ^ lock In prvoMlra 
casbycupf ori ot-diyidcna or nrrtalrtMMart* 
u — new veonv hlon. 

» — Iroding nalted. 

lilrin Sonkra plCT or recetvenhta dr bring 
wnra£ aonkruBlCT A«Xor securthos 
wd - whendiGtrioutw. . Z 

wi — when Issued. . 

ww — wl ihworronlj ."1- 

^“•'■mvWcnd or ex-tignts. - . _ : 

7 fl, s — oaraieiribuiion. . ' 

'*~- w !Jh ovl wa rrants. .''.t?" 

^^iT 11 ^ ^ SBte 1 an- ■ ' - -C? 

I t—solnfei ML 























m : i s % .v JT> 


V- _ i> -i :' , ■» "■ 

** v - * ; -*5- 

• 3 -;« Si . • &jf. 



K r .^f g^aj ; ; .j^; 

Rjr a $ T> - : . 

.'A r : L- : - *» &' j- ; V 

hP3^;;-S 
fe’ 13 I j: 

'. : :: " i 

Wt'd 5 * ;. ■ &S 

^'. •7 ->£ •••: v& 


: ; : tU: 

:- — f>. 


»«.l* 


INTERN ATIONAL HERALD TRIBUNE. FRIDAY, MAY 13, 199* 


“7'T> 

UM-- 



Page 17 


' Marlise Simons 

a^NT-FERlUN^F^nce r- 
bantam, that chabby, faWs ~ B,_ 

also known as the MiffW.T 01 

broogta good cheer to the TeaZ^aS? , lo ?8 
ffl« of & volcanoes of m®”" at the 

more jobs for the people at the 

qnW", a, Cta»5R5£ MKl ’ e ' m lMd ‘ 

world's lar^tmaia «£ti %*!T ‘ he 
yards and around the ffi 1 U i at the faclor T 
bers morale being so 1 w * rftnem ' 

*“ M^helin 

*? >» TO ASSESSES SUP 


ichelin Come as Rude Shock to Company Town in France 

h£ the KJinn nt ■_ . ... M. 


deca^££h nmpm b<« in the last 
otehaveshrynfc to 1 6,000 from 30.000. 
E! £"J cuts were ihrough attrition and 
buyouts, but hundreds have been laid off. 

snenH? ,jJ°T entire Wcrkin S Kves lave been 
^ ™wtf» their jobs 

In France and across Europe, Unions are 


atdonui lion*' Rn? ,nd “ slriai cost-anting and 
at pi nJ^ U unemployment in France, now 

World' ,S a ‘ 115 hi8hcst ,cvd ■*«* 

per^n™ I ii n “ ? a s,ark **ample of the 
thal modem technology 
workers ,ls unemployed 

from h?oK "*& VKt,m * of the shift of jobs 
ing ccSlSS 51 WCS,Cm cconotnies 10 dcvd °P- 

**?* » vulnerable as Cler- 

□v ihp ^Pcudeni on one compa- 

^the townspcopJc have ^ j^eri tQ JJJ. 

SrvT- a S 011 ®* ° r pa«*rnal!sm could 
P^ar in a few years. 

nlf SW*** ever ywhere else, peo- 
M?rhS^ i Nottun S Wl11 happen, not here. 

hjchdm will pve us people/ " said Francois 

SoiKet. a local uruon leader. 

“That's a big part of the problem. We grew 

StaSiS*®-*’ 1 * could d0 “ ,1,in| 

Francois Michelin, the enigmatic family pa- 
triarch and company chairman, has presented 
the shedding of jobs and drive Tor efficiency as 
part of a worldwide trend which, if anything, 
has come late to France. 

Mr. Mkbdm, 67, the grandson of the compa- 
ny's founder, has compared the changes to 
previous upheavals in the region. like the lime 


earlier in the century when machines replaced 
horses on the farms and pushed the weavers out 
of the textile factories in nearby Lyon. 

“Tires will never again be an industry of 
manual labor," he said at a rare, recent public 
appearance. 

Explanations have done little to lift spirits, 
said Bernard Moulin, 40. a union delegate with 
22 years as a cuucr and molder ai the plant By 
way of demonstrating the company's local pow- 
er, he led a visitor on a tour of the places that 
made up his Michelin life. 

There was the maternity clinic, the Nine 
Suns, where most workers’ babies were born, 
and the Michelin genera) hospital, where work- 
ers were treated or died. There were dentists’ 
offices and even a sanatorium, all now in the 
hands of the government, which has taken over 
the Services once provided by the company. He 
drove by the complex of 'Michelin schools, 


home. When his father died, Michelin made the subsidized, eats up $265. The remaining 5905 
funeral arrangements. are spent quickly on heat, light, food and cloth- 

Today most such services have gone, except ing for five people. 

L a ST 5 ES » 

normal, raid cap, uli s t cmarpri*," Mr. Moulin ti m fob^pS 

Th,> i.,, a..\ i uons 10 companies that do not even reply. The 


The downturn has disheartened many young 
people who have tried in vain to find work with 
other local employers, whose plants make com- 
ponents for the aerospace, car and pharmaceuti- 
cal industries. Many workers’ children seem lost. 

Florent, 23. was bom in the Nine Suns clinic, 
grew up in a tiny Michelin apartment and 
wants his Iasi name withheld to protect his 
father’s job. 

He lives on a bluff overlooking a Michelin 
bastion of halls and chimneys, but for him the 
plant has been as unapproachable as Kafka's 
castle. Since leaving school, he has applied for 


*V wnyiVA miviiviiu iimiwwi-i vkwuv. >Jun.L IUIIIU 5 oLUk^lf UL no? appucu J^l 

which used to hold 6.000 students, now turned jobs, was turned down, did his military service 


over to the state. 

“1 went there from age 8 to 16.” Mr. Moulin 
said. “I came out a carpenter and went straight 
to the plant.” 

His mother always bought food, clothing, 
furniture, even coal and firewood, at the com- 

S ny stores, where some prices were subsidized. 

ce his father, who worked at Michelin for 29 
years, he has always lived in a Micbelin-owned 


and applied again. On lucky days, he gets odd 
jobs as a cashier, night watchman or car washer. 

“It gets harder to live with parents, but 1 
can’t afford to leave.’’ he said, showing a small 
room that be shares with his two brothers. 

At the kitchen table, he and his mother 
tallied the family budget: his father, a worker 
with 25 years at the plant, brings home the 
equivalent of S 1 . 1 70 a month. The rent, though 


uons to companies that do not even reply. The 
last Michelin letter, saving there were no vacan- 
cies, came two months ago. 

“I worry about Florent,” said his mother. 
“He’s starting to say be won't gel up in the 
morning. ‘What's the pant?* be says." 

Michdin’s strategy for job and cost cutting 
varies widely at the 70 plants it operates in IS 
countries, employing 125,000 people. In 
France, which has strong labor protection laws, 
the company plans to eummate 5,000 jobs this 
year, mostly through attrition and voluntary 
buyouts. 

At the Clermont-Fenand plant, where the 
company has already shed 14,000 jobs in less 
than a decade, this means cutting 1,500 more 
places. 

Company executives have said that reces- 
sions in the United States and Europe have 
depressed car and uuck sales far beyond expec- 
tations. Further, economists said, Micheun’s 
purchase of Unirpyal Goodrich in the United 
States in 1989 plunged it deep into debt. 


These events may happen far beyond the 
horizons of this provincial capital yet they have 
shaken the Auvergne highland. 

‘This city is the dynamic bean of a large 
rural region," said Jean-Yves Gouttebel. the 
deputy mayor. “So it inevitably affects the 
whole area.” 

Clermont- Ferrand had attracted immigrants 
for years; its population is now shrinking. Its 
145,000 inhabitants are 15,000 less than in 
1980. Shops and small businesses have closed. 
Some locals have retreated to family farms and 
many Portuguese workers have gone back to 
Portugal. 

Some people bought out by Michelin have 
used ibeu’ final payments to start small busi- 
nesses, but few have succeeded. 

One of Bernard Moulin’s friends who left 
after 20 years at Michelin used his 525.000 
severance payment to open a hardware store. 
He lost the entire sum in two years. Another co- 
worker opened a small store in Nice but went 
broke and is now selling vacuum deaners. 

At the town ball Mr. Gouttebel insisted that 
the city still had a bright future. With new 
highways and a high-speed train route now 
being built, the city will soon be a crossroads at 
the heart of France. 


BEAL ESTATE 
investments 


F *qya«CT pcfea home n townwm. 

*4 Avw 

gnojTtwe beriroonu, Yh btffe, 

Egg y. 1 ""*, P ?«V War 
.thyme, w3d 

rsE-j 


-r»°«NCE - core D'AZUR — 
IJA CH^RATf FAKMHOUSt BAST- 

. BeauBMh restored in o porv 

oramk portion 30 tnra to Cora & 
St Raphael, 10 mm to Aa 7.000 lah. 

aw. very big &*mg room. S2 
aerm around, house, logo pool. a» 
er«d terrace w«h bcrboai* My 
equipped & fornahed FF 7 M5oa 
Tel/Fax Sums owner (33) 94 76 51 79. 
Vor. 


REAL ESTATE MARKETPLACE 


NTSNAIKMAL TROPHY RESORT. R.CR1DA-PALM BEACH CONDO 
Helm ta cwn aim Cfcrcrhori, tamahcc. 2 be&txrm. 3 


FLATOTH 

BFFB.TOWBI OR 
EXPO PORTE DE VBtSAIUES 
frem flodwt to S mwa de Iwe. 




NEAR IOUWE 179. art. doming 2 
roams, aO c om fo rts. 46 tajs. FijwO 
+ MR Tefc t-43 54 27 12 evnxiL 


REAL ESTATE 
SERVICES 


7fc» G»S of ft* flUNCH 0VBM 

CAPFBRAT 




ole tool be seen to Mm Atari 
30% below cast far qukk sole. Omimr 
To) (33) 9349 7711. Fax 9349 77D1 


ixiSSkrS] 


CoumesJ For fo* detafe 
pad. Tel/Fax: +44 0M2 


REAL ESTATE 
FOR SALE ' 




I . -u . . • 1J .l.i T 



B * 

•Tip 




AGENCE 






tax (33] 9T 09 30 12 


A MOST RAUTIUL VUA W 
PORT-OBMAUD (VARJ FRANCE 

with garden, outdoor ■w iii xx x i y pod, 
26 m. long boerf moorig. 

J70 j^jn. Mns space (ertsxed by on 
irterncionQly renowned interior ad»- 
tert, hiRy fwnched. ij offered for vJe. 

R a poss34* to <xgauv smutowaudy 
or Hipcnfln ri r 2 BW bods la. I BVA 
TurboroMO 51. 1 BVA Aq u or mxs Spe- 
cial bath boob bemp in new awfhon. 
Pfamc gjctoct, QtCY by fox or Idtei 
RBDQaiAL KAmtS SJL 
. f.a he 23BS L-imHuMraboarg 
■■ tepsaj 400939 . . ■ 





IE VICTORIA fart of Mart Cafe}, 
ffeaart 2 bedroo m apalment, cfaout 
120 sqja, equpped kilthen, storage 
room, good asndiion (possUty for of- 

'i^GEDI 

Tel 3342 1659 39 tax 3393 50 1942 



PAMS A SUBURBS 


VUE IT AVRAY - EXCBTONAL 
20 rwb West Etuie Pam, 199. cert. 

mown 4£0 sqjto. pool, ft ha. pori 

danaife forw>. FF14 M. 
OwnorTax: {33-1)47 50 6*64 


Tefc 212-832-1666/tax: 212-832-7679 


SPECIAL HEAPING 




To place your classified ad 
or for more informatioir 
Contact in Paris 

TeL: GH> 46 37 93 85 - Faxs ©3# 46 57 » 70 
OR YOUR LOCAL IJLT. OFFICE 
or REPRESENTATIVE 



Lft InJ 


Alain CAREN 

Architect 

4 Roucas, 83570 Cotignac 

PROVENCAL COUNTRY PROPERTIES 
Tel.: 94-04-64-17 Fax: 94-04-69-93 


SWITZERLAND 


j jk | looking for 
!. property in 

[swiss real, est ate! Switzerland? 
Djansc, Bitesmal tan spxaiaig n sdes d bp 
?araipns dais trom tile Gewa ® 
Ifcn&jx and Be meutar tscs d Vfec. fetter. 
Cars. GsaaD Vttejf w iroe. 

A total sewto ntiAq mea i i anal atpot 

pescrafcK tour oi prepenes. BansBUn aflwt cn 
mv^qes, taraon and itaiiasor, top setna qua 
and ireicri rot Cat orta ib U*t 4tM cBab 
Piem Jungo ■ Uctnsad Real Estate Broker 
CUGSA 

Centre Csx, SM7 Sondtar- 1S2D Henna 
T(b <1 * 21 rS*a»te- Foe 41 *Rt*9BSRB 19 



PORTUGAL 


PORTUGAL ALGARVE 

15 minutes (rum FARO airport 

SeccJtiful 1 2th Century Country House, 
camptaie/y restoraa with dl modem 
foo litres, 9 rooms, 3 bathrooms, land 
parcel of 5,500 sq m., wilh enclosing 
wals, waterwell. 7 fen. from sea. 

Nef oddng price; 95 million Esc. 
fax: 41 22 347 02 40 


LONDON 

LETTINGS 


» 071-50 n«5 

APARTMENTS C7P— 
siUMHimiimwiniu 1 

From £240 p.w. Ind VAT 

130 fully serviced studios and 1 &2 
bedimmed apartments. Self contained 
and hilly eouipped, direct dial lines, 
colour T.V.. maid service, 24 hour 
porterage, central heabng, fax. business 
facilities and parking avaltalbe. Easy 
reach of unaergrtnmd, shops and ' 
rest! urants done fcy . 


YOUSAfflHBAD. 

So did Dearly half 
a million potential 
real estate buyers worldwide 
Shouldn't you advertise 
your property in the 

INTERNATIONAL 
HERALD TRIBUNE? 


For Sale by PiAfic Auction on Wednesday 23h, 1994 

i Vu6Bn,IrdmL 




m A Ran opportimgy to acquits one of Dublin's most famous HoMs 
Thro mies from City Centra ■ On Dubai's tram route South 

Durable Location • Dev al opni en t potoutW 


Accommodation. 

-50 Bedrooms 

■8,500 sq. ft Nits-cfub 
•BulABearPub 
•Restaurant 

•AI situated on 35 rcras of grounds 


• Leisure centra (including poof) 
•2 Restaurant 
■Shqppmg & Bank 
•Stand alone Medtcal Central Office 
Block 


GiUNNE 


L 1 ESTATE AGENTS 

176 Pembroke Rd., Ballsbridge, Dublin A. Ireland, (nil. +353-1-5632535 


DISTINCTIVE MANHATTAN, PROPERTIES 



[T ^«WJTIHG PROPERTIES OF PtSTINCTlON 

taeVarte 70»-80VIVfc Ave t&2Btt oed condo* 

PfED-A-TEWU! STEAL THESE CONDOS 

KE^YOHKFI^* tte A) 720 SF perfect pie^-terre In top 
in lovely tal L. f aC i n g buiklir®. limathle baths. Charming 

building- All rooms Wg 8 vie#s f262300. Z) Grand 1,700 SF 

hemw widi large LR, FDR, 2ritraH)B- 
Green marble S^ev/baths. cious master suites 2.5 t^is. Wind 
new EKPtfdSUM AdeSOTK 

Low mnt. d S1058.A xS8 jo* 0 nmt 702-7 Wx 37 

mmticmry 

lnK35 nty CW«k ExcL 7JRMOCNDO 

J^IllTIES SPLENDOR ON THE PARK 

^VENQUAUT^ ho Park &. Ciiy Views from the 2500 SF 
for the d«cnoiinat«ng ' W Qty heme, pe^ct 

only wants the k* *ew l0CA . Simkcn living room, FDR, 3 MBRs, 
has to “D uality BUIL. jSj * *s * ms* -n pre-war Luxury 

TIONS AND QUALi "t&too Buddmg. , . 

ruNGS. Currently I ^"^ured. Low maintenance. Tremendous rental 
rf fhesfi- Complete pnvaty jncotne! 

teW&wK*- 

aB-wy* 

la.-rtlSF War VtUxec Hf»oc ExdaUve 

E«arsrtff^ TOUB OWN garage 

^tATIAL35'HAN«ON 3 ^ory phs b»e- 

diwnnr 6 stray 


maroic 


jrw “'7 a angular propeuy 

i residence, for vie- 


DaW NioiW‘“’ w S^^ 


Don't miss 

the Advertising Section 

'LUXURY REAL ESTATE" 

Which app ears ° n June 25 


SOTHEBY’S 

I N J 1 .K.VVriONAl. H FA LTV-. 



ppr-?.: r f Vi 

•U-.K » i. «V 


Control tarfc Vlut/70*. 

South tower oportawnt. tmpocoife rano-ahcxi. living room. 
Ifcmry/gutot room, marfafe beft, dining room, fefchen. martr 
bedroom rtdibtA. Air cund Mcning. Undo Stem 2126067697. 


The MotM^c 

W bmfeirol viewi from 1 



item 2126067697. 


wn 


CondoBHaum on Central Park 

Cer*d Pert Wefl/BOi: Begart 7-room home m fcAwrvim buWinq. 
Sorttwd aimer pwk •*** fen WnehtninB mom. 2 bed- 
rooms. Ebroy/id bedroom, moids, 3Hbrthj. 1 t^afeert per floor 
AwflcifefemfcWS27l»^M GorySimcn, 212 606 7714. 

Dupiex/FSgh Central Pori Views 
dO^fifih A <•«* IfeA from afl nwiOr rooms. Living room 

. aid master b e droom with vroodbwmrg fireploeee. Formal dining 
room, modem ldfchen. 2 beAoomj, 2 bade. Afl in palect condi- 
tion. SB95fl0a SJy Hdbrt. 212 606 7710. 

EwVew 

Be* 50s; An ourtonding nwt 9-roocn m a londmarb Eou (W 
Cooperative complete «* a prjvert courtyard, large masw suite 
features b«ah his/her bafo. 3(7 formal dining room. Gram 
cfportmlty. May Kent. 212606 7705. 





■ ■ 


Museum fewer 

Off Fifth Avenue This luxurious 5.000* sq rr di-pla. penrhotne 
with 80' terrace offers cj'-epfonol :hy trvi Central Perl •«« 
and 2 woodbumirtg Hrepfo res E>qu<s>le d«x.r Pnccd “epB tvdow 
marltel OoBylm: 212^Cfe T 6f4 



Prewar Partbouso 

East 66(h Street- Chorn'tisg penthouse in lop boiling wrth tonoces 
on all sides Sunny rpui -news woodbuming (irepfecr >r> living 
room 2 master hdreoms library, famvd dtmng room Eefrtifelfy 
r en ovated. Mcr:-i..!h Hull Smrlh. 212 606 7o83 
Pork Avenue Condominium 

Part Avenue/ ?0s This crr.^nly located I -bedroom Corrctemoium in 
pro**? fejiHing feces Pori. High floor. large femg 

room, woorfeuni-to firnploru Sun-filed. Tint reduced Mainteronoe 
S555 Asking 5250 000. Luiso loVob 2 1 2 606 ’6» r 
HandsniR 21' fewnhouie 

Greenwich Villcg'’ L-.cfesivrr A bcouriU 4-s»ar, mufe* ord -Jcv 
lightod Boev -ihrcugh Pcrfer floor wirh 12 ■‘O-I'rgs Cho* i livhe.i 
7 fireplaces, tunny sojrh got den, roof dec 1 OW-cd vTcam 
Jeffrey Frrth. 2i:Mfr7ft73 


980 Madison Avenue, New Yorkv i^igD^- 

i 

| 


' iluvli.:; * i » Ijincton • Madrid ■ M-mSallaii • pilfe.jl-iicfepiri.-.- 


To place an advertisement^ ’ ^ 
or for further information, 

please contact your nearest 1HT office, representative, 
or Fred RONAN in Paris; 

Tel.: (33-1) 46 37 93 91 • Fax: (33-1)4637 9370 


N0W*l$ THE TIME. 


Tc ie45towr the Now WwW. partniartjr 
New Ywk Csy Fallen prices, ano uvnabie 
currency rales carbine to offer the besl real 
estate mvestment oppatumaK In decades 
Fw htormatorr about av*tel>9 prupemes. 

Ple&e contact 

E. Robert Z 12-24X000 x 215 
Fate 2 12-727-30* 1 


Wells S.Gay -'SiribirngiS Associates. , 
. ^Cijc’trs f; n i^s L [J V 



Hnlcr pjrtiqrjiinn bnited- SpmvirllawklJ.Tniinii 2uks raid 31ar1wiin^ Hb: Sanshme (kuap. I jiL Fust212)M& 
lK-t-rntiiw-.4kTO-im»WB^(ifIcrtV;l1iWAjifaNL-rmalK-.<|iwbM-.TTw|«wn?BMit^'tdP 





















































M, rep 

mz 

ip- 

jjs* «>-* 

m, \i earn 

fen "a* 

J$j 55ft 
fe^Ltrh 

fat * 

m 10 ir 
ttZ 4 in g 
S | and 

j woul 

gjihef 
s, 5 year. 
r\ Te 
’ dcpo 

SiW 

g;i 1 tnde; 
jp- comp 
Mi* ) Bolsa 
h \ ' Thun 
5?|: FuJ 


ffi: C 

Gi; taJiate 
£• vesunt 
£;■ withdr 
board 
i?I: “Unde 
C=or equ; 
«?; Ml« 
extensi 
S|£ status t 
§i: ness an 
f[;; Stales. 
8jl Econ 
h.' would c 
Jj.' favored 
ft-': said, lx 
$j:-as Fran 
JJ^many v 
g;i vacuum 
Hi; Some 
: |-.raake e 
'inures be 





0 3 


es Swem j 



The press 

Depending on which of the Baltimore 
Orioles was asked, their three-came sweep 
of the Toronto Blue Jaw was either a 
coming-of-age milestone or no big deal. 

to Mike Mussina, it was a sign of the 
Orioles' growing maturity. 

“For the fir*! time, we arc believing that 

we’re going to go out there and beat these 

guys." he said after scattering seven hits 
for his first complete game of the year, a 4- 
i victory on Wednesday night that gave 
Baltimore its first sweep’ over Toronto in 
12 years. 

"In the past. thought wc could beat 
them." Mussina said. 

Bui to his manager. Johnny Oates, it 
was too early in the season to mean much. 

'it's three wins." he said. "That's all it 
is. three wins " 

Whatever the case, it was another solid 
game by the Orioles, who trail the first- 
place New York Yankees by a hall-game 
in Lhe AL East after having won their 
fourth in a row and 1 1th in 14 games. 

Harold Baines and Chris Hoiles ht> 
mered. and Mussina struck out five and 
walked two. 

The Orioles' last swept the Blue Jjys in 
a three-game series on Aug. 3U-Scpi. 1. 
1982. At the time. Oates was a rookie 
skipper in the Southern League; Mussina 


was pitching for a Little League team, and 
Hoiles was entering his senior year of high 
school. 

The Blue Jays' sraner. Todd Stottle- 
myre, who was working on three days' 
rest, took his first loss of the year. He 

AL ROUNDUP 

lasted 5v.» innings, giving up seven hits and 
three walks. 

They did what they had to do." said 
Stoulemvre. who is fi-2 against Baltimore 
in his career. "They got a couple of balls 
they could handle and hit the ball out of 
the" ballpark." 

The game was tied. 1*1. in the sixth 
when Baines led off with his fourth home 
run of the Mason. Two batters later. 
Hoiles hit a two-run shot to left and it was 
4-1. 

"The last couple of years, they seem to 
be able iu beat us in" the late innings." 
Hoiles said. "They've broken our hearts in 
the laic innings. This time, we were able to 
come back and beat them." 

Stoulemvre. either agreeing with dates 
or trying io lift his own moral, said; "The 
funny thing about this game is that you 
play 162 games, it's a marathon; it's not a 
sprint." 


Yankees 6, Indians 5: Djnrn Tarubull 
homered. and Paul O'N'eiil got two more 
hits as New York won ns sixth str-iight. 

O'Neill hit an RBI double in a ihree-run 
fifth inning at Yankee Stadium that gave 
New York a 4-1 lead against Dennis Mar- 
tinez. who allowed five runs and eight hits 
in 5 : /» innings. O'Neill went 2-l'or-4 and 
raised his major-leaeuc-!ejd : nu a* cr.ige to 
.473. 

Jimmy Key allowed three runs and sev- 
en hits in seven innings, struck out five and 
walked one. Bob Wick man finished lor hi? 
first save as the Yankees impn»'-d to 22- 
10. the best record in the majors and [heir 
best start since 1956. 

Red Sox 7, Brewers 1: Aaron Selv gave 
up seven hits in his first complete game m 
the majors, and Mo t'auehn homered and 
drove in three run? as Boston popped j 
season-high five-game losing Mrcuk. 

Cal Eldred gave up lour run* ;n the fir m 
T he Brewers had won their previous li e 
games ai Fenway Park. 

Angels 13. Rangers 1: Angels 8. Rangers 
6: Chili Davis hit two two-run homer? and 
tripled as California took over lir-i place 
in the West bv routing host te.v.is .ifi-T 
winning the completion of Tuesday'.* im- 
pended game. 

The .Angels won the suspend j-i came 
when Dwight Smith's single broke a 5-5 Hi 


Stanley Cup 

The Associated Press 

BOSTON — Now that they have 
gotten the Boston Bruins out of the 
way, the New Jersey Devils can 
focus on the team they've battled 
all season for supremacy in the Na- 
tional Hockey League; the New 
York Rangers. 

John Mac Lean had two goals 
and two assists Wednesday night in 
a 5-3 victory over the Bruins that 
put the Devils in the Eastern Con- 
ference final. They won Lhe final 
four gomes of the bcst-of-7 series 
after losing the first two at home. 

“The road to the Stanley Cup is 
through New York,” New Jersey 
forward Benue Nicholls said. 

The Devils open that series Sun- 
day at New York, which has won 
eight of nine playoff games. 

MacLcan’s second goal was the 
game-winner. He scored with 4:37 
gone in the third period to make it 
4-3 and stop a Boston rally that had 
wiped out a three-goal deficit. 

Nicholls stole the puck from de- 
fenseman Al lafrale at the Bruins' 
blue line and passed to Claude Le- 
mieux, whose shot ricocheted off 
the post and right to MacLean on 
the other side of the ice for New 
Jersey's fourth goal. 

“It's the biggest mistake I've ever 
made," lafrale said. “This game 
was our best game of the series, but 
we still didn’t win." 

The Bruins rallied from a 3-0 
deficit with a goal late in the second 
period and two more in the first 
2:08 of the third. The three goals, in 
a span of 3:37, broke a scoreless 
span of 122:19 for Boston. 

As in the three previous games, 
the Devils dominated center ice 
with close checking that prevented 
the Bruins from attacking. 

The Devils' goalie. Chris Terreri. 
stopped 38 shots to win his third 
straight game at Boston Garden. 




1 flwif* W» 


1&T. 


* . * v V . s • V*- A •* 1 


>n the luih. and Jorge Fabrccas added a 
t'Au-run Jotibb. 

Tim Salmon v.cm 4-fi>r-5 with a triple 

and a double in that game, which was 
zii 'pended alter eight innings because of 
the AL curfew. Suimon also went 4-for-5 
in ;he second came, hitting a two-run 
homer, as did Jim Edmonds, while Smith 
also homered for the Angels, who had a 
•e.i>on-hieh !° hits. 

White So.\ 14. Murinvrs 6: Ron Karko- 
• ice hi; a grand -lam and Julio Franco hit 
n ibrK-rui'. ho."c; ,t> Chicago, plating at 
home. ?cored >cv\.i-. run> with two outs in 
the tnird innin.'. 

Royals 9. To in? (i: David Con; pitched a 
three-hitter tn Kansas City to win hi? sixth 
jtraliihi .•■’.an. He •.•.ruck out si< Minnesota 
bait Jr'. ••’. h:'c \V;,i|y Joyner. Terry Shorn* 
p.r:. D-j* ; H.ncer-on and Greg Gaene 
■Mi.ii jf ’■■■-■ Iv o runs. The Royals got 14 
nr..,. 'vitii ol [•„*;.>■ .m.- by each starter. 

Tigers 6. vthieri-rs 2: Cecil Fielder. Kirk 
G<h*i.>r. .mo Erie D.nis hit oases-empty 
no mar? v, the third inning in Detroit as 
0.t!:!.trd ivy* njr.dvd its F ,J th loss in 21 
games. 

Bon Vv'aicl: Ic - L his ninth straight deci- 
sio r . -mce ia.*: A.ie 2°. He wj* tagged for 
m\ -un- an.' eight rit in 5 ‘. » innings with 
.K'ven ,.tr : i.e->ut:. .inJ three walk.?. His ERA 
r.iv. -rom ~.~i 'o >.iu. 


■.«*. — j}? ''"w'jsf-. 

* a? -t*' 


o-.'v :\y s 

-iSASe.' 1 OUiESS 









-p>* & 

v-a-v. TCT"! •* • .y? 

JL 2 „ y 

■d'.-Jd.a -'i ' •' ■■■ ■ 

l'..k! Muirj. liai.r Pir.,- 

Left fielder Milt Thompson caught tins popup, but the Phillies’ fielding didn't sparkle eithe r as the Braves swept the three games. 

The Major Leagues 9 Baiting and Pitching leaders 


AMERICAN LEAGUE 

BATTING— O’Neill, Net. York. ATI: W.ClarA. Texas. 
JM; M. Vaughn. Boslon. J03; C Davis. Cal I tornla. J57: Bel m, 
Cleveland. 05*. Palmeiro. Balilmare. J5«; Loffon. Clove- 
Iona. M2. 

RUNS— Thomas. Oilcaoo.33; While, Toroma. M; LeNon, 
OevWand. 29; A.Caiu, MlnnesoJa 7): Grlftev, Soame. 29; 
Cansoca Texas. 2S.- Greinnell, Ballon. 29; C Da vis. Call- 
tomta. 28; Mailrer. Toronto, ^ 

RBI — Carter, Toronto. 39; Franco. Chicago. M; Pu<*ott, 
Mlnnesala 3S; J.Gcimlez, Toxas. 33; Ventura. Chicago. 
12; Griffey. Sea me. 31; Cansoca. Texas, 39. 

HITS— Puckett. Mlnnesala. 48; CDavIs. California. <0; 
Molltor, Toronto, 46; NCVaughn. Bosion.45; W.CIark, Tex- 
as, 44; Sarague, Toronta 43; O’Neill. Hew York. 43; White. 
Toronto. 43. 

DOUBLES— Knoblauch. Minnesota IS; Otarvd, Toron- 
to. 12: Bolie. Oevelana 11; W.CIark. Texas. It; Puckeii. 
Minnesota 11; Tnomas, Chlcoga 10: Carter. Toronta 10. 

TRIPLES— ADtoz. Milwaukee, t: Lotion, Cleveland. 3; 
A-Colo, Minnesota 3; GrlHey. Seattle. J; L Johnson. Chico- 
no. 3: 14 lied with Z 

HOME RUNS-Grltfev. Seattle. 12; Thonm Chicago, 
11; Flaliter, Detroit, It; MVauetm. Boston. ID; Palmelra 
Baltimore. 18; Carter, Toronto, to; Cooper, Boston. *; 
Sierra Oakland 9; Franca Chicago, ». 

STOLEN BASES— Coleman. Kansas City, 16: Lofton. 
Cleveland is; Huho. Texas, III McRae, Kansas CIW. 11; 
A-Coit, Minnesota '0; Nixon. Boston. VO; Knoblovch, Mln- 
nocota 9; Polonla New York. ». 


DENNIS THE MENACE 


PEANUTS 


PITCHING C< Decisions)— McDonald, fialitnwe ~ o. 
im XOS, Alvarez, Chicago. M). 1M0. 154; Mi-ssira. eoUi 
mon.6-1, JW.lxa; Cone. Kcbisoj CHy.6-i. as». 333- r 
York. 6-1, 35T. 105; $«ic. Boston. i-i. A®, 24J; Shoo «*iin'» 
STRIKEOUTS— Hen roeruTorm 10. JO; Clemens. 0o»ron. 
4S; R Johnson. Seattle, 44; Appier, Kansas CM. -U; Gor- 
man, Toronta 41; A. Lei ter. Toronto. 41; Gordin, h’onias 
City. 38. 

SAVES— LaSmlth. Bo II I more. IS; Rusm»II. Baslon I. 
Aguilera. Minnesota 7; XHemandez. New York. 6: Hen- 
na man, Detroit. 5; Avaia Seattle. 4.- Crane. California. *; 
Montoomerv, Kansas City. 4; Farr, Cleveland 4; Honko, 
Texas. 4. 

NATIONAL LEAGUE 

BATTING—Gwynn.SanDleeaaM.-Alau.Moftrreai,J4e; 
Surks.ColaradaJ64; Jetfertos. Si. Laud, 451; rnnk *ora si. 
Louis. J44; Bagwell, Houston. JIT; Boone, Cincinnati. J3Q. 

RUNS— Dykatra, Philadelphia, 32; Shcllloid Florida 
X;Blggla Houston. 28; Burks. Colorado. 28; Lankfora.St. 
Louis. 27; Flnloy, Houston, 77; Bagwell. Houston. 76; 9u!- 
ier, Los Angeles, 26; Waiiach. Las Angeles, 26 
RBI— Bagwell Houston, IS; Shelf laid Florida. 33; Ga- 
larraga Colorado. J2: Ma Williams. Son Francisco. 31; 
Piazza Los Angeles. 28; Kent, New York. 2B; Oaullon. 

Philadelphia 28. 

HITS— Lankford St. Louis, 43; Gurvnn, San Dlago. 43; 
Piazza Los Angelos. 42; Alaa Montreal 41: D -Sander?, 
Atlanta. 41; Biggie, Houston. 4); 6 ilea with 40. 
DOUBLES— LWalker. Montreal. 16; Blagio. Housion. 




14: D.isiii. Ftii'cd.tBMo. l-i; Alou. Montreal. 12, King. 
F>llst-.rsn. i.'; .Vorri;. Cincinnati. 12. Bonilla. New York. 
10: Wollacn. Let Angclss. Id 
TRIPLES— P Sanders. CkKInroiL Sr Mondesi. LosAnge- 
leA 2; Zsrscfe- r.'-entreat. 2. Ciovian. Son Francisco. 3, 
D.Lf.wK, icr. ptM-.oscc. 3; Ot^rrnon.Los Ansvlcs.3.- Burks 
•ilcrciio ?: Ss-iC9er?. Chiccsc 3: Sullor-. Loj Angeles. 3 
HOME .TL’NS— V.a.Wlilioms. son Frcncisco. u; Shot- 
Held. Floricj. *2. Diel-ert-.', Coiorodo. It: Burks. Colorado. 
II; Ga:grrc£C. 2;lgrodo. 11; wolloch. Los Angeles. 10; 
Kent.New far Planner, 4an Dleoo.v; McGrlff, Aflorv 
ia »: Allr:htir. Cincinnati, 4. 

STOLEN 5A5ES — C. Sanders. Allan la. 14; Corr.Fiarlda 
13; Dc^nieidj, Loi Angeles. 12; Clavton. San Frandsca*; 
Gonzalez, Houston, 9: Grissom, Montreal. 9: Butler, Los 
Angeles, 7. 

PITCHING M Decisions J— Tewksturv. St. Louis, 7-ft 
l.CK. 3JT; CaJccRsor. Philadelphia 4-0. lJMO, 2A4; Linton. 
New >00.. +c. I dCD, 2.45: K.HIII. Montreal, 6-1, £ST, 150; 
DraU-x, H3ui-;.i 4-t. Jflfcz77; Saberaagun, New York, 4, 1, 
JK*. IM: Con. Los Angeles. 4-3. ^QC. jji. 

STRIXEOUT5— Bencs, Son Dlopo. 5S; P.JJMartlnei. 
Montreal. S3: G A'.addUk.Atlanla.4S; Glavlnc. Atlanta 45; 
Troctisel. Csi :ogo. 44 ; DnJaci son, Philadelphia 44; Rllo. 
Cincinnati, m. 

SAVES— Rolos. Montreal. 9; Franco, Now York. B; 
McMicticci. Aiianic,7: JXemandef, Florlde.6; M. Perez. 
Si Louis, s. Har.cv. Florida 6; Whire, PlMsburgh. 5; 
Mrers. Chicago. S. 


Braves Remain 
On Upswing, at 
Phils’ Expense 

The Assoaaetl Frvss 

At this rate, Greg Maddux and the At- 
lanta Braves will not be playing against 
Curt Schilling and the Philadelphia Phil- 
lies this October. ... , 

Maddux pitched 6ft solid inn i n gs as the 
Braves beat the Phillies. 4-2, on Wednes- 
day for a three-game sweep in Atlanta, 
Maddux has a 6-2 record and leads the 
league with a 1.13 earned-run average, 

NL ROUNDUP " 

while the Braves lead the NL East with a 
21-1 1 record, having won six of seven. 

S hilling, the MVP of the triumph over 
the Braves in the playoffs last year, has a 
5.40 ERA. The Phillies have lost seven of 
eight, are 1 2-21 and looking like a longshot 
even for a wild-card berth. 

“What am 1 supposed to do?” Schilling 
said. “I'm 0-6. 1 can't gel any more down 
than I am" 

Maddux won in his first start since be- 
ing hit on the left cheek by a foul liner last 
Sunday. He stiU had a large welt on the 
side of his face, but held the Phillies to 
three hits before tiring in the seventh. 

“It was a little tender, but it didn't hurt 
when I pitched,” he said. 

Nor when he hit, apparently. Maddux 
singled twice, and scored on Deion San- 
ders's homer in the fifth for a 3-1 lead. 
Fred McGriff also homered for the Braves. 

Dodgers L Astros 0: Raul Mondesi ho- 
mered in the sixth, deciding a pitching duel 
between Pedro Astacio ana Houston's 
Shane Reynolds at Dodger Stadium. 

Reynolds retired the first IS Dodgers, 
striking out right, before Mondesi led off 
with nts fifth home run. Jose Offerman 
singled on the next pitch, the only two hits 
Reynolds allowed in seven innings. 

Astacio pitched a four-hitler for his sev- 
enth shutout in 48 starts. He struck out 
five and walked one as the Dodgers swept 
the Astros for the first time since 1990. 

Reds 9, Padres 5: Bany Larkin had 
three hits and drove in two runs in San 
Diego as Cincinnati rallied to win for the 
fourth time in its last six games. 

Roberto Kelly's two-run homer off 
Andy Benes tied si at S in the fifth inning. 
Larkin singled home the go-ahead run in 
the sixth. 

Cardinals 3, Cobs 2: Bob Tewksbury 
joined Ben McDonald as a seven-game 
winder in the majors, pitching St. Louis 
past visiting Chicago. 

Ozzie Smith had two hits for the Cardi- 
nals, raising his average to a season-high 
.210. 

Expos 4, Mets 3: Pedro Martinez struck 
out right in seven innings as Montreal 
ended visiting New York's four-game win- 
ning streak. 

Martinez retired his final nine batters, 
fanning five. Mel Rojas pitched two score- 
less innings, striking out three, for his 
ainth save in 10 tries. 

Larry Walker hit an RBI double and 
scored on a single by Danin Fletcher in 
the first inning, putting the Expos ahead 
for good/ 

Pirates 5, Marlins l: Denny Neagle and 
Rick White combined on a five-hitter as 
Pittsburgh won in Florida. 

Tom Foley of the Pirates hit his 30th 
home run in 1! major league seasons. 
Andy Van Slyke had an RBI single, and 
was later thrown out at the plate trying for 
an inside- the-park homer. 

Giants 6, Rockies 1: Bill Swift improved 
to 4-0 lifrtime against Colorado, helping 
himself with an RBI double as San Fran- 
cisco won at home. Pitcher Mike Harkey 
singled home the Rockies' run. 






By Thomas Boswell ; 

Washington tost Scrrkr - v 

B ALTIMORE— Tbs Orioles aad Bhw 

series they've played in Camden Yards doesn't 
balance of power in the American League itm’t really ai iyot TfcSc 
Series champion Jays aren't really injured,, aging ©d.teilS 
dethroned. The free-agent- bedecked Orioles aren't 
rich, ravenous heirs apparent Yet the facts give than both 
Mike Devweaux was in center field for Baltimore in ttefini 
though, a day before, he'd' spit blood at the plate after a fastMLgS 
the mouth. Sid Fernandez,- tormented ail ^Jring-by 
pain, battled through 136 pitches even though hchad nat for owml 
curvebalL Old Lee Smith, on a ridiculous pace to.pitdiia'ggS 
volunteered to work back-to-back games even though hig^? 
wanted him to take a day off. * 

Harold Brines, the next day. and just two days 
drilled in a toenail after fouling a ball -off hisfooLirikedhisvT^^ 
lineup. 

The Jays didn’t care much either. Joe Carter hnmed. l^i ^ , 
lineup ahead of schedule after a fright ening case of 
Alomar played second base even m l~\, 
though his back was so sore that, after Van tag© : in 

being upended by one sliding Oriole, he Point 

bad to crawl before he could organize L - • * ■* -Hi 

himself to stand. Todd Siottlemyre, reknown ed Oriole kjBg/S jjmSj 
to pitch Wednesday on three days' rest. : • v--V;3^2 

Yes, it's certainly obvious how litUe these .teamj/wemfid 1 
May series. 

The wheel of history, even in baseball, is hard 
tumpened before tends to happen again. For 20 .years, feOrkfa* 
driven by the momentum of accumulated excdleace. bf tfc|^ 
of that dynasty (1964-1983), the Blue Jays begjm to memrit Vcfcjfe?; 
Yet, year after year, the Orioles banded them moral^breakmg^^ 
Then, in 1984, everything began to change. The thkte ilw »| 
defending Series champions, their praect temporarily: coao&gi » 
haps they relaxed. That’s all it took. The Blue Jays 

record in those games. Just as the Orioles once 
they made an an of torturing the Orioles. Since late in-tfce$9 semsm 
this year, the Jays had won 13 games in their final torii ai bai V ^ 
Each mghi here in Camden Yards you could fod the^tragril, 

rtf wlrivilh H m m, nn Hrii ciHp UqvIw llu’c c*n« nuui', L !. - . <1 


IP 


mm 



-'&? ■ 


^lllLSa l* 


■J&ir 


>i4K 


So far, the season has gone mostly the Orioles' way. Sacelasi'aBa 
they have added a fuD-dme Jeffrey Hammonds (326, butoowonthei „ 
list) and Rafael Palmeiro (351) while the Jays have subtracted]^ 
Henderson and Tony Fernando. Neither has been adequaldyjata 
aiorutop Alex Gonzalez, 2 l.iabattlna. 151 with 17 
bats, including an 0-for-25 streak. He's lost his job to DkkS&fieii 
career 328 hitter who's a welcome oasis to every thirstyphcher'itnsk 
in the Sahara of the Jays' once blistering ttnenp. ■■■■■ = 

For two weeks, left fielder Carlos Delgado looked like ihemtkieif Q 
year with his tape-measure home runs off Sky Dome restauranttllri^ 
word went out: Throw him slop. Delgado's been j unkballed d&riug $ 
a platoon role and 33 strikeouts in 92 at-bats. Put a hold on (Mfotth 
In the Tint two games of this series, the last four hitters in ihoji 
lineup were Ed Sprague, Darnell Coles, Pat Borders ahdSclu&iiLli 
only people they scare are the Blue Jays’ fans. . _ 1'. v 

T HUS FAR, the shock of the season in the ALEasi has beeatiaii 
Orioles have on ace closer while the Jays, with DubeWod nl 
disabled list, do noL The Jays have blown five of nine save.chaflcq As! 
why they're 17-17 and trail three teams. Hie Orioles are 21-10 tecas 
they are 17-0 in games in which they've had a nin th-inning savtcfouq 
Of course, Lee Smith has saved 15 of them and won one._ • 
So many factors have fallen in place for the Orioles thattheyshonkli 
fairly relaxed. Wbea your two best pitchers are 7-0 and 6-1; vtes ys 
key free agents are performing superbly-, when you have no ml maim 
except long relief, you should be able to cruise into the heart of the seen 
with confidence. But can the Orioles relax, haunted as ihey are hy * 
many years of being the Blue Jays' victims? For the past fl^jawB, 
Baltimore's manager, Johnny Oates, rode his playersiarfliSiKfe 
lacked talent. He almost always played for today because, ifhei&h'l, I* 
team might not be in the race tomorrow. By September, theOnoksveft 
frazzled. Those, that is, who weren’t disabled. . . . ,.V\ : • 

On Monday, Oates let Fernandez throw all those pitches, flespfcB 
history of injuries, because he didn't trust his bullpen. He'taed Sta®. 
even though he had a 4-1 lead, because he didn't want’ tbjnd fc 
psychological damage of haring the Jays rally yet Bgtun .ta mn.~Apa 
Tuesday night, in a 6-3 victory. Smith was on the motmd despite*^ 


: 'Afj 


■S'rtTV-i'SpScEF 


i ”• 


•T ^ 


run lead. That’s back-to-back-to-back. 

For one symbolic game, or one series, that may be acceptable JI 


rm one symbolic game, or one senes, that may be accep tame straw ^ — 
But, over the long haul, it’s always a disaster. The goua-waPawt . 
manager bums up his players. Starters go too long. Hot reBw enfet J'-*- - 
out. Nicked regulars don’t get lime to heal. Slumping players gate™ ' - - 
to (be dog house. From game to game, when he has time to deMfc 
Oates makes excellent long-range plans. But in the beef Of baide te® ^ 
tends to manage as though his home is on fire. - ‘ -l- ,- 

For this series, players such as Devcreaux. Fernandez, ’■ 

Baines can push themselves to the max. But if the excited Grata,** , ^ 
their intense manager, don’t learn to lose some battles fo sab* 

winning the war, iheyH suffer one of their game's panful-knoaLff ir; 
baseball that wheel of histoiy is like a baL Don’t grip it too tigbdy* >r X: v. 


CALVIN AND HOBBES 


YOU NEED A HAIRCUT! 


MO* 1 CAN'T 
SLEEP. 


LfASURtW 

CAN IP tXJ 
wst ut J 

QWEtU. R 


BUT HCBKS 
ISHT HESE. 


TIGERS ME VEW CQNRKtntlG. 

I ALWMS FALL t&GHT ASLSP 
WtEH L LISTEN TO HQQBE5 > 
BfeMUiNG. 


VBLlCu Y WflSBW 
owustcn rwww 

70 

s SNORING., TftJQBW 


T’ ~ ■" ■ 

Ft . 


Li * 

* -iT ;; •_ 

Ai.* 

VTui 

t^- • 


yii;;. - - 


-^-n- 

VJ- r 


* 






■ 

- 




Lra 




























L 





Is 


SPORTS 


INTER \ VTION \|, HERALD TRIBl NE, FRIDAY. MAY 13, 1994 



Page 19 


e 


: 0n ^d 


^ Hong 
'■^ng lc 

onomv - 


RACING: 

Mon <*° Crash 


ast 


=*& the 

number- 
•he move 


^r d,ra “^' 

jection oq '“Ravenous in- 

d [ 0rl5 iS ,1<lwaslral ‘ 

b y aoibuh;^! 0 ^ being uk- 




- — . , ijcess Grace 
™ved io Nice°, n ^ 0 - , He was later 


ministry 

londaytb 

Jvomaiu^ 


. European 
Jf- 1 defentt 

p rco '’5is!au wn!; 


"Wlj 


% 


■Azerbaijan 

■Armenian 

7 S the pact 

w as aimed 
negotiated 
n -Armenia 
i both sides 


lomeiers 

™.^°tK^2^' d a brain scan 

from h^d .« 0gCr was suf " 
aon and c»5r aunw * a «wni- 
SUtemeni S k?I f eUin S- The 
aMonii na | no spinal or 

s ap ! riod of luck 
together," tain ^9^ of uniuck 
dnver, Gerhard ^ 0Lher Austrian 
wrestled with^h^u^' wbo 113(1 
mem af le TsIni h 9 U | hu of retire- 

- More aro7.rr, P ^ nod 15 nnjshed ” 

erupt aboufrT n r S Were sure 10 
«8ch SSL** ^ety of a sport in 


muj _ , ~-j ■■■ «* sport in 
/^ed and danger are ihe 


■'■ Nagomo. 
~ They said 
:en pan ^ 

^agcrno- 
i. has killed 


attractions. 

the fiS^ governing body, 

^tioTS^ Automob ^^ : 

lowino' ih?^ [° ^ outcry fol- 

"^s -my 




nu- 


- "W^AepHarea. 

, henna and Raizenbercer 
were killed when Shit’ 
the conciMo walls at curves ' 


*es 



In Rome, It’s 
Veni, Yidi and 

I 

Vanquished 




Emergency crews work to free Karl Wendlinger from his car after it hit the barriers as be braked going into a curve on the fastest part of Monte Carlo’s street circuit. 


coo crete 


By Ian Thomsen 

International Herald Tribune 

ROME — In the middle of ex* 
plaining the health of European 
t enn is. Pete Sampras was interrupt- 
ed by the noise of something like 
1.000 tigers all roaring at once. 

“There you have it" said Sam- 
pras. the world No. 1. “You don’t 
hear that in the States, anyway.” 

The noise came up Thursday 
from the furthest dust-orange pit of 
the Foro lialica grounds, where the 
small amphitheatre and Mediterra- 
nean pines collected and an- 
nounced the doomed efforts of a 
22-year-old Italian named Stefano 
Pescosolido. He was going to lose 
and everyone understood this. He 
had upset Andre Agassi on 
Wednesday before anyone had 
known it was happening He would 
lose but his people wanted to revel 
in him for as long as he was on 
court. He accepted their newfound 


approval with the sad eyes of one 
who does not live for the moment. 


“Every match is differenu" he 
said from inside the dark tent 
where he was taken following the 4- 
6. 7-5. 6-4 defeat to Jacco ElUngh of 
the Netherlands. “Anyway. Agassi's 
tennis is less bothersome than the 


tennis I was forced to play today, 
and every match is different.” 


Ihe 45ih 
*el'.S.-!ed 

ihe ^ esters 


about on-track conditions. 


T- _ j - . — -vwuuvua. 

In addition to the changes made 
Pj eI.A as the OTEannaimn ;* 


:c.r :he first 
-Jte be'.-ae^ 
*wai of their 
French -id 
’•ens s\c;en 


• As nrhsv. 
iea?; *S 




"m: wr.j; 




ir* 


.. . 


-tnrw™ 11 .““ ‘" 6 . organization is 
of ±e Mo- 
naco Grand Pnx made some revi- 
se 15 to theircircuiL in the tunnel. 
“Jf. ^ly barriers were painted 
safety lights were in- 
stalled at the curve where Wend- 
Imger crashed. 

■ Wendlinger, in his fourth year in 
-Formula One. was tied for sixth in 
the current drivers’ championship 
standings with four points. In his 
eireer, be had started 35 Grands 
Prix, with 12 points and no vic- 
•lones. His best finish was fourth, 
achieved three times, most recently 
at San Marino. 

In contrast to the tragedies dog- 
ging the Grand Prix circuit, the 
first four days of practice for Ac 
May 29 Indianapolis 500 have been 
the safest in the track's history. 

Seventy cars had been driven 
6,930 laps — or 17.325 miles — at 
speeds up to 230 mph with only one 
minor accident as of Thursday. 
That accident occurred when Mike 
Groffs car slid in a patch of oO and 
hit the wall on Monday. The car, a 


Suns, From 20 Points Down, and Knicks Rally for 2-0 Leads 


^ Lola-Honda. suffered minor dam- 


age. Groff escaped witha bruised 
foot 


But Nigel Mansell, the former 
Grand Prix driver who has become 
a star on the IndyCar: circuit, said 
he was still trying to shake the sense 
or grief and disbelief over the tragic 
death of his longtime rival. Senna. 

. “I can honestly say that the last 
week has been one of the sadden 
limes in my career,” Mansefi said 
at the Indianapolis Motor Speed- 



Njilf Aitnr TV Pi.- 


Patrick Ewing stole the ball from Scotty Pippen as the Knicks stole another game from the Bulls in New York. 


The Associated Press 

Fourth-quarter comebacks were the 
tbeme of the night as the Phoenix Suns and 
New York Knicks took 2-0 leads in their 
conference semifinals. 

The Suns’ comeback was the biggest 
final-period rally in NBA playoff history. 
Phoenix, which trailed by IS after three 
quarters and 20 early in the fourth, rallied 
for a 124-1 17 overtime victory in Houston. 

John Starks scored eight consecutive 
points during an 1 1-0 fourth-quarter rally 
that carried New York to a 96-91 victory 
over Chicago in Madison Square Garden. 

Charles Barkley scored 34 points. Kerin 
Johnson got six of his 27 in overtime and 
Dan Majcrle added 22 as Phoenix won its 
second straight at The S ummi t in Hous- 
ton. Hakeem Olajuwoo led the Rockets 
with 34 points and 17 rebounds. 

Only one team, the 1969 Los Angeles 
Lakers, has rallied to win a seven-game 
series after losing the fust two games at 
home. 

Games 3 and 4 of this besi-of-seven 
series will be played Friday and Sunday in 
Phoenix, where the Suns have won their 
last 13 games. 

“If we don’t win it now, it’s our own 
fault," Barkley said. 

Houston was leading, 104-84. with 10 
minutes left, but the Rockets got only one 
more field goal in the quarter, a 3-poinier 
by Sam Cassell with 2:35 to go. The Suns 
closed the period with a 24-4 ran. 

“Coach said there isn’t everybody over 
Acre who wants to shoot, so when Ha- 
keem got it, we were all over him like a 
cheap suit." Barkley said. “We’ve got a lot 
of 3-poim shooters, we got our fast break 
going and we came back." 


in overtime. Phoenix scored 12 of the 
first 15 points and the sellout crowd at The 
Summit began to file out with more than a 
minute left. But Robert Horry and Scott 
Brooks hit consecutive 3-pointers to make 
it 120-117 with 36 seconds left Johnson 
and Danny Ainge then sank two free 
throws each to bold off Houston's come- 
back. 

Houston scored only eight points in the 
fourth quarter, equaling the playoff re- 


The biggest names advanced to 
the quarterfinals: Sampras by 7-6 
(10-8). 6-3 over Andrei Chesnokov 
of Russia: Na 3 seed Jim Courier, 
with difficulty against No. 13 
Wayne Ferreira of South Africa. 6- 
7 (7-3). 6-4. 64; and Boris Becker, 
who continues to have a surprising- 
ly easy lime, by 6-3. 6-4 against 
ninth-seeded Cedric Pioline of 
France. Though be is concentrating 
more on the faster and kinder sur- 
faces. Becker spent the previous 
four weeks practicing on clay with 
his new coaou Nick Bolletiieri. 

“It’s not every day I win a clay 
court tournament.” said Becker. 
He has never won one. 

No. 2 Michael Stich. who had 
problems the night before against 
Alberto Berasaiegui of Spain in a 2- 
6, 7-6 t.7-5), 7-5) escape, got past 


qualifier Karim Alami of Morocco. 


NBA PLAYOFFS 


Nets 


cord-low set by the New Jersey 
against Geveland last year. 

In New York, the Bulls numagpH only 
19 points in that fourth quarter on 4- for- 16 
shooting and shot just 37.5 percent for the 
game. 

“We haven't been able to handle their 
pressure down the stretch, and that has 
cost us two ball games." said Scotlie Pip- 
pen, who scored 22 points but once again 
straggled against the Knicks’ tenacious 
defense. He missed 10 of 15 shots. 

Patrick Ewing led the Knicks with 26 
inis, and reserve Anthony Mason had 
second straight good game with 15 
points and 14 rebounds in 34 minutes. 
Starks finished with 13 points. 

New York led by 2-0 in the conference 
finals last year before losing, 4-2, for their 
third consecutive playoff series defeat 
against Chicago. 

“We were in this position a year ago and 
still wot." Pippen said. “IT! take our 
chances. This team hasn't shown it can 
dominate us, so we fed we can still win. 
We just need to finish off the game when 
we have the lead in the fourth quarter." 


way. 

“Mauricio Gugelmin and I bad a 
little chat," Mansell said of the Bra- 


raced Formula One with Senna and Els Leads in Spanish Open, 

XiancoH A A 

OlazabaTs Manager Gaddies 


t 


3V* 

r 

M_ 


Mansell. 

“Mauricio shared the same home 
"as Senna for 10 years and I raced 
the last 10 years or more against 
Senna head to head,” said Mansdj, 
the Formula One champion in 1992 
and the IndyCar champion last 
year. “Tm sitting here talking to 
you this morning and I don't rally 
want to believe it has happened. 

He said Senna’s death had left a 
tremendous void in the motor rac- 
ing world. , 

“I’d say the situation is dire, not 
just for Formula One, but dire for 
motor sports momentarily, Man- 
sell said. “There isn’t a driver that 
hasn’t been touched by the h01 ^* 
.We, tragic accident that happened 
last week.” 

; Pole qualifying for the 500 wih 

take place Saturday. 

(AP, Reuters, AFP . LAP) 


The Associated Press 

MADRID — Ernie Els of South 
Africa rode a hot putter to a 5- 
under-par 67 Thursday and a one- 
shot lead after the first round of the 
Spanish Open. 

Els sank putts of 45 feet (13 me- 
ters) and 20 feet in carding seven 
birdies over the par-72, 6, 928-yard 
(6,335-meter) Club de Campo 
course in Madrid. 

Mark McNulty of Zimbabwe 
shot 68 to share second place with 
Steven Richardson and Peter 
Mitchell, both of England. Masters 
champion Jos6-Maria Olaz&bal 


Olazabal played without his reg- 
ular caddie. Dave Ren wick, appar- 
ently because of a dispute over 
mooey. 

OlazabaTs manager, Sergio Go- 
mez, carried Ms bag around the 
comse. 

“Dave is not caddying because 
his daughter’s in the hospital — 
and the other reasons are private 
and I have to talk to him,” Olazabal 
said following the round. 

Renwkk, a Scot, bas been Olaza- 
baTs caddie almost since the 28- 
y ear-old Spaniard’s first profes- 
sional tournament, in 1986. 


turned in a 71 for the round and his Reportedly, the run-in over money 

ros is at least their third such dispute in 


Spanish colleague Seve Ballesteros 
had a par-72. 


the last few years. 


In Golf \ Dad ’$ Success 
CanHandicap the Son 


.Vw York Times Semce 

NEW YORK — Does the father's success 
spoil the son’s initiative? Apparently so. iF the 
sons of famous golfers are to be believed. 

In the May issue of Golf Digest, a fascinat- 
ing study of sons of great golfers elicits some 
telling quotes from the progeny. 

Wayne Player, son or Gary Haver, talks 
about Gary Nicklaus, son of Jack Nicklaus: 
“He’s been given all kinds of things. Like me. 
he’s never really had to suffer, and when 
tough times come along, maybe you don't 
hang in there like some other guvs." 

Gary Nicklaus on Gary Nicklaus: 

“I know this is not what' ray dad and mom 
would like to hear, but it’s not the end of the 
world if I miss a cut. 1 can still pay my bills. 
My father has set all of us up in a way that we 
really don’t have to worry. 1 thank him for 
that,* but at the same time, if ! said it didn’t 
make a difference. I’d be lying.” 


Maradona Barred From Japan 


CimpiM hr Che- Staff From Dispatches 

TOKYO — Diego Maradona was barred 
Thursday from entering Japan with the Argen- 
tine team for World Cup tuneup matches be- 
cause of his arrests for cocaine use. 

A visa was granted for Argentine striker 
Claudio Caniggia. an official of the Foreign 
Nationals Affairs Division in the Foreign Min- 
istry said, speaking on condition of anonymity. 

Officials said Maradona would not be grant- 
ed a visa because his drag-related arrests dis- 
qualified his entry under Japanese law. 

He was granted a three-month visa Wednes- 
day to travel to the United States to play in the 
World Cup finals, a U.S. Embassy spokeswom- 
an in Buenos Aires said. 

Canigga. who on Monday played his first 
game in more than a year after a suspension for 
cocaine use. has no drug arrest record. 

The U.S. Embassy spokeswoman in Buenos 
Aires said she did not know if Caniggia had 
applied for a visa to the United States. 


• Individual game tickets for four more 
World Cup matches have been sold out, raising 
the total to 34 in the 52-garoe tournament. 

The latest sellouts, announced Wednesday, 
were Switzeriand-Colombia in Stanford. Califor- 
nia, on June 26; Morocco-Netberiands in Orlan- 
do, Honda, on June 29; Bdgiuro-Saudi-Arabia 
in Washington on June 29 and the second-round 
game in Pasadena. California, on July 3. 

Tickets for all games were stiD available un- 
der premium plans ranging from $425 to 54,750 
per strip, depending on the rite and the number 
of matches. 

And, no maLches had sold out in any price 
category in Dallas. 

• Prosecutors in Bogotd said a charge that 
flamboyant goalkeeper Rene Higuita had bro- 
ken Colombia’s lough anti-kidnapping laws 
would be dropped, but that he would be 
charged with failing to give information about a 
kidnapping. That offense carries a penalty of 
up to five years in prison. (AP, Reuters) 


'-6 (7-5). 6-4, to reach the quarter- 
finals. A later match pitted No. 4 
Goran Ivanisevic against No. 14 
Richard Krajicek. 

Hie sixth-seeded Ukrainian. An- 
drei Medvedev, was summarily dis- 
missed by an unlikely Czech named 
Slava DcsedeL. 6-1, 6-2. while No. 7 
Thomas Muster of Austria retired 
with a back injury, trailing 4-1 
against Andrea Gaudenzi. Gau- 
denzi is now Italy’s last hope for 
someone recreating the work of 
Adriano Panatia, who won this 
tournament in 1976 largely with the 
hdp of his countrymen. 

Pescosolido, who lives here, had 
won the first set and was trying to 
hold serve late in the second when a 
ball appeared over the tall hedges 
behind him and almost struck hrm 
in the back. His fans jeered and 
whistled althe outrage as be appar- 
ently tried not to listen. He mostly 
kept his eyes on his feet between 
points, while the noise drifted from 
Mm to the player from the other 
court, who was Gaudio Panatia, 
Adriano's younger brother and the 
Pescosolido of fus day. 

“It’s not as loud as it was." Pan- 
ana said after losing his seniors 
doubles match with partner Charley 
PasardL “J think they have learned 
better from watching TV. They used 
to throw coins, but not only coins. I 
was playing once at night on center 
court and they were throwing plastic 
bags with water made. They were 
laun c hin g them with a machine ." 

If 300 people were around Pan- 
atta’s court. Urea 200 of them were 
standing near the fence overlook- 
ing Pesarsoirdo. He won a tourna- 
ment last year in Tel Aviv: Hope 
for today. But their groans said that 
Pescosolido had been broken in the 
final game to give away the second 
seL 

“I have known him since he was 
a little kid,” said Panatta, as the 
chants of “Pesco, Pesco, Pesco” 
rose up. “He has an unbelievable 
forehand, but be is very quieL He 
feels the tension. I hope he wins." 

They were trying to convince 
him, but he didn’t believe and nei- 
ther did they. Gaps appeared in the 
amphitheatre seating. He double- 
faulted to give up three match 
points. Then the end came fast. To 
look at him, unshaven and no more 
glum than when the match began, it 
was hard to recommend ihe com- 
forts of home. 


I . - 

SCOREBOARD 




Jr— * 

Major League Standl igg. 

AMERICAN LEAGUE 

EBlt DMsk» pef 
22 10 


jjOrttz. W— L unas to a 2-0. L— HeIBng, 3-1. 
Sv _n Mna n <T J. HRs— ColHomta. DJjnOh 
(21, Salmon «),CJOavis2 (81. EUmowBtlL 

zsr* ss Si « 


N«a (7), Yj>erez (0) and Santiago. w-Neo- 
PW.S4.L— WcpthenJ-2.HR— pltt,Fotev(l>. 


m 300 Ottfr— 7 11 0 
Fenen (8) and Nirwon. Mothanv 
(7); set* and Ranrtund. w— Sale. *4. 


Mr* vert 
‘Bnffimore 

Boston 

T a ranto 

Ortraii 


Vi — 


Chroma 

NUMovfcae 

’KotaokCMV 

CMw Wn d 

Mfwamo 


Ceamd owuioo 
» « 


JM 
£71 
A 34 
50 
MU 


Vt 

1W 

6 

7 


171 ■ Seta and Rowland- « «. 

L_.EIdf*t M. HRs— Boston, G«etwN« m. 

M-Vavohn (10). 

amtond “• 100 7aM 7 2 


alamo Dio ooo ow— 2 a • 

St. Louis 0W 101 96*— 3 11 0 

A-YownwCrlm (7). Ptasoc IW. Bautista (8) 
and Wilkins; Tewksbury, Hadron (9) and 
TJMcGrKf, W— Tewksbury, 7-0. L— A. Young, 
VI 3*— Habvan CD. 


. . ■ xZSPZ ^ v:- 

Wednesday’s NHL Playoff Wednesday’s NBA Playoffs 

New Jersey 0 a 2— S Chicago 27 M 21 19— 

Boston P 1 2—3 New York n * « n— 




ioo on one— 8 i» i 

net. Farr W>. BorneotJ 

lomar; Kay. ,W and - 


.543 

531 

.514 

AO 


iMiar- Kay. Wfckman 10) «« loth*. 
ESwX L 1-t Sv-wick- 

Smto- HlMw 7 


l 

tw 

3 

4 


ooldand 

Detroit 


010 166- 2 

833 008 «*-4 


Briscoe 14) and Hemond; Doherty 

r^r^oUy. 4 . 2 . L-Weleft. «• 
Detroit FWder 



westwvtsj* 
IS » 


13 


13 


NATIONAL LEAOUE 
east owuwo 


AS 

.41* 

.<06 

373 




MO 000-1 1 1 

Toronto m m 5^ W 0 

BotPonm .. ... firnlln (7) and 

SHTSSSS !£**** 

> 1 . HRO-Bommor* 
Qoit*S {*). Wdles I6h ^ B|>-6 n 2 

w* 08 lar *06 o « 

CWOWO (4) . T .Davis C6). RWwTO 

W*io.Caiwf» (a), nHemwdM 

asses*®;* 


Houston 000 • 

Los Awetas om on on— 1 2 ■ 

RernoMs. Edera (B) ond Servols. EuseWo 
(8); Astocio and Piazza W— Astado- 2-3. 
L— Reynolds, Vl. HR — LA, Mondesi (51. 

OKtasatt «30 B1 •«— * 15 2 

So* Dtasa . W *00 «•-* • 0 

poga Schourek (3), J.Rvffln (4), Carrasco 
(B) md Dorset!; Boies PAJMorttnei (6), Eh 
BattOBiftPaofe W.HofimcnW aw Ausmus. 
W— Schourek ML— Bents, 3-4. Sv—Gomsea 
(4L HR— dnOnnatt, RJCrily (3). 


The Michael Jordan Watch 


3f 


AftOftM 
Montreal 
New York 
'Florida 
, PhHode*phlo 



WEDNESDAY'S GAME: Jontal went 1- 
for-5 In a 4-3, 11-1 rrnlng toes to the Orlando 
Cubs. He drew a standing svanan from the 
crowd when he doubted sn 0 hard grounder 
Down the Nilnttase line. He struck out once 
ond didn't hove any punub in right fleta 
SEASON TO DATE: Jordan Is tutting 3sa 
(26-for-104) with 10 stolen hoses. Bed ter sec- 
ond In the league. He has 14 RBIs. right walks, 
31 strikeouts and no home runs. 


a 3 3—5 

Boston 0 1 3-3 

New Jersey wfcn series 4-2 
First Period None. Penolttes— Show. Bos 
(holding Stick), 6:57; Honklnson. NJ Icnxu- 
chedclng), 16:09. 

Second nerted-i, Nj.MocLeon * (Lemtow. 
Ntoolbl. 7:X l NJ. Nledermavar 1 tMoc- 
Leon, Slevensl, 15:13 (op). 1 NJ. Lemiew 5 
(MocLeoru NMermoyer). 11:06. 4. Boston. 
C2*lcnwskl3 (Ootes),H:Ji. Penal Ms-Hot*. 
KJ H Hoping), 3^8; SturrseL Bos (boordlno), 
8:45; Murray. Bas (elbowing), )3:S2 
TWrd p or ted i , Boston, westay 3 (He*tue, 
Stumpel), 1 :39. to Boston, S mot ins* 1 5, 2:06. 7. 
New Jersey, MocLeanSINkiwlls. Lemelu>). 
4:37.1, New Jersey, CtwrskeL I9:0i Penoirto- 
t— Honklnson, NJ molding). 9:57; Donato. 
Bas (cross-check log). 11:03. 

Shots on goal— Nj 5-l>5-2L Boston ix-io- 
ll— <1; pawer-pley Onoortoomes — nj 1 01 *; 
Boston 0 ol 3; goalies— NJ, Tcrrerl, 30 HI 
shotaJB Mvesl. Boston. Casey, 5-6 123- W 


Tour of Spain 


Japanese Leagues 


.jr ggs 

PhUB****" S T0 0B1 ■ - 

AH***. w-f [*) ond OouB»; Mtrtki*- 

X£SS~e£gsr m *' 


isnnNd 


’’S' Bid *» 

farm* •« dm 8 s0 

: Bro-n « 9 » 


B=SSS5aBKi= 

Colorado flT «o fi»-4 i» » 

San ydr (71 v* «f- 

Koricrv. b«* W Moft - 

Montreal 


Yotnlurl 

Yokttn 

Chunlcfti 

HWBWn 

HlrtShlmo 

Yahohome 


Central League 
w L T 
30 9 

15 13 
13 14 
12 15 

12 15 
II 17 


=S^*s-=-£i ••• S-._ 


Th ursd ays Results 
Yotnhirt 5. YofcuM 1 
HO PC hln 7, Owntohl 4 
Hiroshima 7, Yokationw 3 

poctftc League 
W L T Pci. 
19 18 

17 18 
13 13 
12 14 
10 15 
10 17 


Pa. OB 

AW — 

•536 4tt 

■481 6 

A44 7 

■444 7 

J93 8W 


DaM 

5eBw 

Ori* 

Nippon Ham 

KlnWtw 

Latte 


tmrnto 


. 1 . S 6 


— 


line** 


Ttw ivl o y s Resatts 
Oaiet 12. NIppW Ham 7 
Kintetsu i Lotte 4 


- — GO 

A55 — 

AX 1 

-S06 4Yi 

A3? tfz 

ADO 7 

-STD 8 


RewBi from Thersdays Ittti stage, 187 k llo- 
Wten (fU miles) beelmlDg and ending in 
A*Uo: L Btuseppe Coicaterra lioiv. flmoie 
andVita. 5:12:53: 2, Ml dwIeCoppoIilta. 'tair. 

N»dopre,l second behind; 3. Ale* Zulle.5»rli 
serlond, ONCE, 1:47 behind; 4. Jose Pouri- 
Mra Spain, Castell&lancn. J-K behind: 5. 
Mosalmiliano LellL Italy. Mercatone. 2 03 Oe* 
htnd; 6. Abraham Otana,Mapei-clos.2:OJM 
7, Jen Umoea Sea la Mocel-Clas, 3 .03 
behind; 1 Paolo Lantranctil, Itolv. Merco- 
tone, 3:03 behind; 7. Pascal Lino. Franco, lo- 
ha-FesHna 2:03 behind. Id Massimo Poamv 
amallm*. Navtoare. 2:10 behind. 

Own* Standings: 1, Tony Romlnger, 
«rta"d, Mopet-Cka. 82:02:45; 2.MJkel Zorro- 
hHHo, Spain. Banesilo, 5:15 behind; 3. Pedro 
DttaodaSpotn, Bonesta 7:« behind; A Zoflr. 
7:34 behind; 5, Ohverlo Rincon. Colnmola. 
ONCE, 8:45 behind; 6. Lite Lsgtanc, France. 
LatiwFastlna. 10HQ behind; 7. Luis Perer. 
Spain, Cast ed&tanch. 11:41 behind; A Vicente 
AMridfcSwin, Bonesta, 13:08 behind; ♦. For- 
nmdo EscarHn, SnaJik Mapa(-cra 13:3« oe- 
Mnd; 1ft LantraichL U:0S tahlna. 


Chicago 27 M 21 19—71 

New York 23 28 22 27— W 

New York leads series 2-e 
Cnlcago: Grant 7- 1« 8-8 23. Pieoen y IS >0-10 
22. Cortwright 0-1 1-2 I. ormslreng e-ll 10-10 
71 Mrers 1-30-0 2. Loro (e» 1-3002. Kerr I-6IH) 
2. English 0-? 020. Wermlngton 1-1 OOlkukoc 
4-7 4-6 12. Pwson 0-1 OO 0, S Williams 1-4 002. 
Totals 27-72 33-33 71. 

New York: Bonner 1-1 MS.Oakiev 4-7 1-2». 
Ewlno 7-127^2L Dovis I-36-7& Harper 5- 180! 
IO.SmlltiWO-1 4, Storks 4-11 2-2 llH.WilltarrtS 
Ol 00 Ol Anthony 03 3* 3. Mason ?-J3 1-1 15. 
Blackman 1-2 9-01 Totals 3 w? 2V30 ». 

3-PaliH PBOt l Chicago 4-11 {Pippen 7-5, 
Grom l-l, Armstrong 1-1. English 0- 1. KukocO- 
1. Kef r 02). New 1 ork 5-1 4 1 Start s >B. Ewing 
1-1. Blackman l-l, Aninonv M. Horner 0-3). 
Fouled 001— Pippen. Rebounds-'rhicooo 44 
I Cartwright id), *9* York 46 (Mason 14). 
Assists— Odcago 14 t Armstrong a). New 
York 22 (Mason 6). Talal tools— <:mcogo 74 
New fork 29. Technicals— Pippen. Chicago 
illegal defense, Starks, Dakler. 

Phoenix 32 27 23 26 14—134 

Houston 28 tt 60 8 7—117 

Phoenix leads series 38 
Phoenix: Sorklev 11-lB9-1034.Cebolk»6-15 
OO 12, Miller 1-2002. KJormsanUB H 14 77. 
Malerle 8-1 1 1-4 22. Kie me M HD, Green 37 7- 
15 15. Ainge 3-10 4-6 12. Taials 4085 n-t? 124 
Houston: Horry 4- 12 OO 11. Thorpe 7-9 6-7 7a 
Olaluwon 16-28 06 31, Mp««e'i 6-1* 17 IS. 
Smith 6-14 2-3 16, Herrera 012-22. Cowell 4-11 
4-6 14, Elle 0-2 1-2 1. Brooks 3-J 0-0 7. Curclon OO 

OO 0. Totals 44*98 19-ia IK. 

>P0lnt goats— Phoeniv IJ-28 iMaierie 5-7. 
Bartley JM. Green 2- S, A,nge2-8l. Houston 10- 
38 1 Horry 3-8, COssell 2-1. Smilrt 2-L Mo*well 2- 
9. Brooks 1-1, Elle 0-2). Fouled oot— Thorpe. 
Herrero. Rebou n ds P hoem* 70 1 Bar tier 1S1. 
Houston 57 (Dloluwan 17). Assists— Prwm» 31 
(Bartley. K Johnson 6). Housiart 2; ismiinsi 
Total fouls— Phoem, 26, Houston 38. Tecbni- 
®Pl*— Houston modi Tomlarayich. KtoW 1 
Phoenix coceh Westphal Elect lons—Melrw. 


15-day disabled list. Recalled Andy Tomber- 
lin, outfielder, from Pawfucfcei. II- Dosignal- 
ed Rob Henkel pitcher, tar assignment. 

CALIFORNIA — Activated Mark Lgngslon, 
alicher, tram ISdav abobied list. Optioned 
Bill Sompen, pitcher, to Vancouver. PCL. 

CLEVELAND— Activated Sandy Alomar, 
catcher, ham IS-dav disabled list. Optioned 
Jesse Levis, catcher, is Charlotte il_ 
DETROIT— Traded Scott Livingstone. 3rd 
baseman. io San Diego for Gene Harris. pIKher. 

SEATTLE— Put John Cummings, pitcher, 
on 15-day disabled list Recalled Jim Con- 
verse. Pitcher, tram Calgary. PCL. 

Nations; Leawe 

5T. LOU is — Activated Mike Perez, pitcher, 
from )5-dav disabled iter. Designated Willie 
Smith, pitcher, tor assignment. 

san diego— P ut Scon sanaerx pi tow. on 
15-dov (teamed lot, retroactive May l. Optioned 
Roy Hoiberi, Indeider. to Los Vegas. PCL 
FOOTBALL 

National Football League 
CLEVELAND — Withdrew contract offers 
10 Brad Goebel, quarterback, ond Ed Kino, 
tackle. 

DETROIT— Signed John Oglesby, running* 
back, and Scott Kaoian, kicker. 

HOCKEY 

National Hockey League 
PHILADELPHIA — Signed Chris Htrtwger. 
left wins, and Aaron Israel, gooHender. 

TORONTO— Retorted Pol Jablonskl. goal- 
tonder; Mod Martin. defenseman; ond Yank 
Perreault. Chris Govedoris and Eric Lacroix, 
forwards, from SI. John's. AHI_ 

COLLEGE 

CITADEL— Nomed Kenny Carter defen- 
sive ends awn and recruiting coordinator. 

IND.-PUR.-FT. WAYNE— Eileen Kleln- 
feiter. women* basketball coach, resigned to 
accept same pusl lion at University ol Find lav. 
Trar Rushing, soccer Gooch, resigned. 

IOWA— Named Mandi KowaJ women's raw- 
ing coach. 

MIDDLE TENNESSEE ST.-womed Lee 
Fpwier athletic director, effective June 13L 


Curry Wins NBA’s Sixth-Man Award 

NEW YORK (AP) —Dell Cuny of the Charlotte Hornets, who led the 
league’s reserves in scoring with 16J points per game. Thursday won the 
NBA Sixth Man Award. 

Furry received 46 of a possible 101 votes from a nationwide panel of 
sports writers and broadcasters. Nate McMillan of the Seattle SupeiSon- 
ics finished second with 37 votes, while Craig Ehlo of the Atlanta Hawks 
was third with 7. 


Earlier, the 1 993-94 All-Defensive Team was announced as comprising 


center Hakeem Olajuwon of the Houston Rockets, forwards Scotlie 


Pippen of the Chicago Bulls and Charles Oakley of the New York Knicks, 
ana guards Gary Payton of the SuperSonics and Mookie Blaylock of the 
Hawks. That team was chosen by the league's 27 coaches. 


Calcaterra Wins 18 th Spanish Stage 

AVTI A Cnain I A Pi rilnnma «"■ ’ -r rrm~C, I. 


AVILA, Spain (AP) — Giusejqje Calcaterra of Italy won Thursday’s 
18th stage of the Tour of Spain, covering the 189 kilometers (1 17 miles) 
bqpmung and ending in the cenLral town of Avila in 5 hours, 12 minutes, 
53 Seconds. 

Tony Rominger of Switzerland kept his overwhelming 5: 15 overall 
lead, finishing back in the pack. Spain’s Mitel Zarrabeitia is second 
followed by Spain’s Pedro Delgado, 7:08 behind. 


For the Record 


Tottenham Hotspots future in Ihe English Premier League was pul in 
some doubt when the Football Association charged the dub with miscon- 
duct over irregular payments to players. Tottenham has 14 days to answer 
the allegations. ' (Reuters) 

Tom Browning’s broken left aim won’t need surgery, the Cincinnati 
Reds' orthopedist decided, but the pitcher would be out of the lineup at 
least two months, the team said. (AP) 

Andrei NBcofishw, a 21-year-old center on Russia’s Olympic hodcey 
:• - v r .. team, has agreed to a multiyear contract with the Hartford Whalers of the 

»-*— NHL IAP) 


' V- tl 


BASEBALL 
American League 

BALTIMORE— Recalled Mark Smith, out- 
lie kier. from Roches l cr IL 
BOSTON— Pur Scott Bankhead oiictwr on 


UEFA CDF 
Final, Second Leg 

inter Mllvi. Italy. I. Salzburg, Austria. 0 
tlnlemazto na le won on 2-0 oggreggle! 
5WEDI5H CUP 
Fins) 

IFK Hon-kaping 4, Hei&ingborg 3 

INTERNATIONAL FRIENDLY 
South Korea Z Brazil 3 
Cofombln 1 Parma. Holy 1 


Quotable 


• Jolm Gamty. in his book, “America’s Worst Golf Courses," on the 
Riverside Golf Club in Fresno. California, which borders an area where 
sportsmen fire rifles and shotguns at game or targets: “One player was 
struck m the chest by a 22. caliber slug— but since the bullet just barely 
broke the skin, he finished his round before reporting the incident.” 


ir- 

es 

ay 

IT 


es 

Ti- 

ng 


SO 

de 

»■ 


or 

ty 


i. 

“ e 

~ * 
ev L 

_ e 


4G 

"3, 


ox. - 
xa. 

I 


-A* 
ui ha 
an o 
«w. 
3 74 


a - 

«e, 

tnxn 

uttatf 

T*fc 




EE. 

UVIN 

store 

>136 


i 


(S 


8928 

3178 


as? 

act 

ill? 

t£ 

«s»y 


DP B, 

asla 

al 


id 

xxn 


9 ~ 


2phe 

Jma 

mon- 

□pat 


td. 

net, 

ies. 


MN 

% 

nMU 

X) 





Pa 


law 




ii; 




}1|: l';i£.- 


I : i* ^ 

J'/: I. l . 
l^'« f J’ . £' ’ 

; - 

;j- . p* 


:P- 

* . 7:1* > 
sf.« , , £■• Jo 
ii 1 ° 

Gvi \ ;.\t IK 
**.-■ ll -Gi •‘K 

n ir. ■ & 


' :?■ 
jH,'; 

i-'wr 

•S fajlfA 


S': Jj.ig 

• . o'- • 5 


.i;2 1w>§ 
,v> ■ . r G 

WitilS 

.*.■ •■'.•'D 
• 3 -; i: 1 o 

K>jj. <D 
}i> M-.i n 


£:fijs 

Is ■ ":•> f 


$: ti 


Ini' , vj< I K 


»,■ 


ij-Iiv: m 




- ?' 

;r-; Ii ■ 5C 
w . LI 

I* ••, ;< Ji 

!.#•■ >U.4 ■. Vi 




ffrit.jS* 5 

-5 

»l 

l* Jh 

r ' j* 


r 


Page 20 


INTERNATIONAL HERALD TRIBUNE. FRIDAY, MAY 13, 1994 


OBSERVER 


Wallowing in Sex 


By Russell Baker 

N EW YORK — Because it was 
Topic A in the weekend sex 
news I wrote a column on the latest 
sexual harassment charges, which 
was a waste of four good hours. 
After reading the finished opus, 1 
recoiled 

With all the solemnity of a papal 
bull I had weighed the significance 
of the ineffable Bobbitts, of Anita 
Hill's story about Justice Thomas, 
or Gary Hart's destruction by a 
righteous press and much more 
that was extremely important, not 
to mention grave and vital to the 
American soul. 

Rereading this screed with its 
straight-faced discussion of prima- 
ry and secondary sex characteris- 
tics and indifference to the mar- 
riage vows was an appalling 
experience. 

Was it for this son of prurient 
piffle that Nathan Hale defied the 
hangman, that George Washing- 
ton's men suffered at Valley Forge, 
that Madison and Hamilton 
shaped a new republic? 

Since 1863 Lincoln has belonged 
to the ages. Rereading my discus- 
sion of America's descent into the 
steamy fen of Utter Vulgarity re- 
minded me of Groucho Marx ask- 
ing why he should pay good money 
to belong to a club that let in peo- 
ple like him. Is ours an age that 
Lincoln, given a chance to recon- 
sider. would rather not belong to? 

Maybe noL He is said to have 
enjoyed bawdy humor. Yet bawdy 
humor is precisely what is impossi- 
ble as a response to this spate of 
dreary, clinically-detailed sex news 
in which the country incessantly 
wallows these days. 


The slightest suggestion that 
many a sexual harassment com- 
plaint is not so grave as a charge of 
treason may provoke crushing re- 
buke from the forces of moral and 
social uplift So when another one 
comes along, as with Ms. Jones's 
allegations against the gubernato- 
rial Bill Clinton, my writing mecha- 
nism goes automatically into grim 
mode and cannot be reset until it 
has deplored every sexual farce on 
the horizon. 

□ 


Virtually every magazine on the 


illy 

newsstand, every book in the drug- 


store, half the stories in the tabloid 
press, vast quantities of television 
entertainment and movies galore 
depict sexual philandering as a 
common and casual pastime. The 
result can only be that any monog- 
amous folks wandering this cultur- 
al Sodom and Gomorrah fed posi- 
tively freakish, if not distinctly 
embarrassed by their unorthodox 
sexual proclivities. 

Yet let some high-profile politi- 
cian be caught at the deed, or even 
be accused of it, and public shock 
suggests that adultery is (he most 
unheard of thing America has ever 


heard of, except for women being 
ind 


Puritan uadi lion, which leaves 
us powerless to walk away from the 
peephole where fleshly sin can be 
observed, also compels us to pon- 
der it with uns milin g gravity. To 
respond to it with a bawdy, raucous 
“Hee haw!" invites expulsion from 
the church. 

"Here, here." the deacons will 
say. “we are observing these dread- 
ful sinners only to uplift ourselves 
and to deplore evil, not to amuse 
oursdves." 

This column on Topic A. this 
four hours of failed labor which I 
have just thrown away, failed be- 
cause it was written by a man in the 
grip of the Puritan terror. 


subjected to lewd innuendo ant 
proposals by ill-mannered and pos- 
sibly menacing men. 

The national passion for turning 
everything into a lawsuit then pro- 
vides press, television and public 
with cover for much licentious 
chop-licking as senators, lawyers, 
editors and learned columnists 
weigh the evidence ad nauseam. 

Thus Judge Clarence Thomas ac- 
cused by Anita Hill and President 
Clinton accused by Ms. Jones must 
inevitably be held up to humilia- 
tion in press and television to grati- 
fy a sex-drenched society’s passing 
delusion that it is not sex-drenched 
at all. but purer than Hester 
Piynne's home town. 

The details put before the mil- 
lions, strictly in the cause of finding 
truth and doing justice of course, 
are of a vulgarity that Americans 
used to outgrow at about the age 
they were finishing high school. 

And there they all are — sena- 
tors, lawyers, political giants, great 
editors, brilliant columnists — ail 
poring over these evidences that 
sexual foolishness has been amok 
in our land. Horrors! 


Nm York Tima Service 



A Focus on Humor 


By Alan Riding 

Aw York Times Senw 

P ARIS — At the age of 85. his_ bright 
blue eyes still twinkling with mischief, 
Henri Cartier-Bresson continues to enjoy 
playing the rebel. So it seemed quite in 
character that arguably the most famous 
photographer alive today should announce 
that he wanted to talk' about drawing. 

“I’ve never been interested in photogra- 
phy per se." he said. “I don't know any- 


thing about photography. I'm interested 
litner 


neither in my photographs nor those of 
others except close friends. For me. pho- 
tography is instant drawing. My real ob- 
session is drawing." 

His neat studio in the heart of Paris 
confirms as much. Drawings cover its 
walls and tables, while the only visible 
photograph — of a defiant-looking Mexi- 
can revolutionary awaiting execution by 
firing squad — is not by him. “I draw ail 
the lime.” he said. “Would you like to sec 
what I've been doing?” 

Painting and drawing were in fact Car- 
tier-Bresson's first loves and. although his 
“candid” photographs of Paris and of Chi- 
na. India, the United States and Mexico 
brought him fame, he always considered 
photography to be a parenthesis in his life. 
When he returned to drawing in 1972. it 
was like going home. 

Unsurprisingly, though, his reputation 
as one of this century's master photogra- 
phers continues to shadow him. And 
through Sept. 4. the International Center 
of Photography in New York is honoring 
him with an exhibition of 40 of his black- 
and-white photographs called “Henri Car- 
tier-Bresson: Hommage.” 

“It’s a sort of obituary," he said with a 
laugh. “I’m very grateful to ray friends. ! 
still make my living by selling prims to 
collectors. But I’ve been drawing now for 
20 years. So photography? It's all right, 
but I don't look back on it. Thai is why this 
celebration is strange to me." 

Cartier-Bresson's doctor forbid him to 
travel to New York for the opening of the 
exhibition and to receive one of the cen- 
ter's 1994 Infinity Awards next Monday. 
But although he underwent bean surgery 
last year, his energy and alertness suggest 
he may have other reasons to be absent 

“To meet hundreds of people upsets me 
very much,” he explained, speaking the 
fluent English he learned from Irish and 
English nanni es as a child. “I spent all my 
life trying to be unknown, to disappear, to 
be able to observe. And now . . . Degas 
said it is wonderful to be famous as long as 
you are unknown.” 

Certainly, he was able to take intimate 
photographs of what have become known 
as “decisive moments” because he could 
blend into the crowd or watch a scene as 



SopHiBfaaax 

“For me, photography is instant drawing. My real obsession is drawing.” 


an al most-invisible spectator. And in this 
way, he said, he was free to move “like a 
butterfly" between “ministers or presi- 
dents and whores or crooks." 

Yet there is something aboui the immedi- 
acy of photography that still troubles him. 
“Photography is a sketchbook.” he ex- 
plained. “Drawing is meditation. Today ev- 
eryone talks about photography. I spent 50 
years taking pictures, but how many that 1 
did can you look at for more than three 
seconds? Maybe 50? 100? its about alL" 

Jealous of his privacy, reluctant to be 
photographed, he had agreed to be inter- 
viewed on condition that it was “a conver- 
sation without questions." his wav of 
avoiding the sort of discussion — about 
photographic techniques, about cameras, 
about his own work, about that of other 
photographers — that dearly tests his pa- 
tience. 

“Everything I have to say about my 
work is in 'A Propos de Paris.' " he said 
referring to a 1984 book containing 131 of 
his photographs of Paris that has just been 
republished by Little, Brown. “It's like a 
rear-view mirror of my life." But then he 
poured tea for two. apologized for seeming 
impolite, and kept on talking. 

“What counts for me is the visual attitude 
and emotion." he said. “And the visual 
attitude is structure, geometry. If there is no 
geometry, it’s another thing. And you have 


to have sensitivity. You can learn every- 
thing nowadays — there are even books 
teaching people how to make love — but 
there is no school of sensitivity." 

The “visual" has always been central to 
hi; life. Born into a wealthy family of 
textile manufacturers, be resisted joining 
the business and. at the age of IS. became 
a student of the painter Andre Lhote. But 
he was restless and soon headed for Africa 
in search of adventure. 

Upon his return in 1932. be acquired his 
first Leica camera. .And inspired by Mun- 
kacsi's famous photograph of three .Afri- 
can boys silhouetted like Matisse dancers 
against breaking waves, he set off with his 
tiny camera, first around Paris and then to 
Mexico, creating images that are still ac- 
claimed today. 

He was next drawn by cinema, working 
as assistant director to Jean Renoir on “A 
Day in the Country” and later making a 
documentary about life in a hospital during 
the Spanish' Civil War. After the outbreak 
of World War If he joined the French 
fmces, but was captured, and spoil three 
years in German camps before he escaped. 

In France he joined the Resistance arid, 
after Liberation, made a documentary 
about returning French prisoners-of-war. 
But his plan was to go back to painting, "ft 
proved impossible.” he recalled. “You 
couldn't just take an easel and go out and 


make sketches. Photography seemed right 
for seeing what was happening in tne 
world.” 

Before doing so, Cartier-Bresson and 

two colleagues, Robert Capa and David 
Seymour, both later killed on assignment, 
founded the Magnum Photo Agency as a 
way of “being independent and not being 
servants of anyone," as he pul it. He then 
left Paris for tong stays in India, where he 
covered its move to independence, and m 
China, where he recorded toe Communist 
takeover. . ' . . , 

The excitement of those days has stayed 
with him. "Everything for n» culminates in 
die mimn e; no, not in toe minute, in toe 
second, in the second and eternity," he said. 
“It is a trernendous joy to be there, toe 
physical feeling of bong on toe crest of a 
wave with a camera, toe size of your band. 

“The advantage of photography is that 

S Rj’rc in contact with reality,” be went on. 

e then anight himself- “I won't use that 
word, ‘photography.’ To heB with it. But 

reportage means you go and poke your nose 

in things, you participate, you’re thus. The 
sweat comes out of your camera.” 

Beyond that, there was nothing to ex- 
plain, he said. “Tm formed by surrealism. 
Not Surrealist painting, but by what 
conies out of yourself, the unconscious. 
When you press the shutter, you don't 
know why. Cezann e once wrote. ‘When 
I'm painting and I start to think, every- 
thing collapses.’ And he was so right.” 

Today, Cartier-Bresson likes to spend 
his days drawing: in his studio, from the 
windows of bis apartment (overlooking 
the Tuikries Gardens), which he shares 
with Ms wife — the photographer Marline 
Franck — and his 22-year-old daughter, 
Melanie, or in the nearby Louvre Museum 


where, he noted proudly, be can sketch for 
ithout getti 


45 minutes wi 
Yet for all his 


he 


not 


abandoned photography. “Yes, I still do 
I friends and pe 


portraits of friends and people I meet.” he 
admitted. “But not in the studio. I like to 
shoot toe animal in his hole. In a portrait, 
I'm looking for toe silence in somebody. 
For me, the passion is to look, to look, to 
look." 


Later, as be strode swiftly through cen- 
tral Paris, using a walking stick more asa 
weapon for stopping traffic than as sup- 
port, it was also evident that he still “sees" 
photographs. “Look at those faces." he 
said, nodding toward two men standing cm 

the sidewalk. 

So would he shoot them? 

“In the street, never." 

So why was he carrying his camera? He 
laughed his infectious laugh and held tip 
his tiny Leica. 

“Just in case,” be said “You never 
know." 



London. WBsod'j&ecterf 
shflTs offer # tBsofok 
when he.wK^L'i * 

president onto Camas? 
vaL win star in. 

James Write*. Z 
Madison County.” ?’■ : 

. ".J&c tJC 

A^iasrriB^gjiasi 
lawsuit against TwrisJ 
Arnold aocurijft'G^f 
nurse; 

ma ptydmtricho6piMaE*t 


CLASSIFIED 




WEATHER 


CROSSWORD 




Europe 


Tomorrow 


Low W 


Alqw vo 
Airntmten 
An km 

Altera 

Baicdom 

BHgod) 

Etato 

Bn wn li 

Btriap-tt 

ujpoilwycn 


Today 
High Low 
OF Cff OF OF 

16*1 11 m rtl 21/70 12/53 pc 

rO/58 12.-53 m 16.54 1J53 ah 

16/61 61*3 pc 23/73 B/46 pc 

M/77 16/61 pc 26 OB 17/62 1 
22.71 1M» ill 23/73 18/61 pc 
23/73 13.55 PC 24 m 14/57 pc 
71.70 0/46 pc 1644 9148 pc 

21/70 12/53 pc IB/64 10/50 S h 

20/66 1253 I 21/70 1253 pc 

15/66 7/44 i 10/64 9/40 pc 


Forecast for Saturday through Monday, as provided by Acco-Wealher. 

J7V ~ 


Asia 


Coo* Dd Set 13*8 14/57 pc 23/73 14.-57 pc 


Dub in 

E**wyh 

Flora™* 

Frarttun 

Genova 

HefelnM 

teanbui 

LoMtb» 

Lisbon 

London 

Madnd 

Mfcm 

Moscow 

Mtridi 

Nice 

Oslo 


PHIs 
Prague 

Beyt^ivOi 
Ron* 

51 nfentug 


16*4 9/40 PC IB 84 6/40 Sh 
16.61 9.48 s 16/58 9/48 c 
24/75 14 *7 pc 2W67 16*1 I 
20.68 12*3 ah 1958 1152 sh 
18/64 12.53 ill 21/70 12/53 ih 
3*48 -1/31 i 9/40 307 ) 
1956 13/55 pc 23/73 14.-57 pc 
22/71 10*1 pc 23773 17*7 ■ 

17*2 12/53 sh 1 4*6 1253 sh 

20*8 12/53 pc 15/59 1152 r 

18*4 7/44 sh 27/71 8/46 sh 

73/73 16*1 sh 26.79 16*1 sh 

14/57 3/37 c 1356 002 a 

19/96 11/52 I 19/BO 1152 pc 

23/71 16*1 pc 23/73 18*1 r 

10*4 7/44 a 1054 7/44 pc 

21/70 1651 sh 23>73 17*2 pc 

1752 11*2 Hi 79*8 12*3 r 

185 4 9/40 I 18/54 9/48 pc 

1253 4 OB s 1353 5/41 c 

23/73 14/57 pc 26 /79 1550 l 

8/43 ■ 5.-24 pc 0/40 -1/31 a 



Todor 
High Low 
OF OF 


Tomorrow 
High Urn W 
C/F OF 


ACROSS 

1 Juice 
obstruction 

t 2 Calligraphy 


E&ngkot 
B-iinp 
tt** Kong 

New Onto 
Seoul 

Shanghai 

Tape. 

ToJr/n 


34/M 2475 I *'97 J6T9 (*• 
29*4 10-54 pc 29/M 16*1 pc 
31*8 27/00 pc 33/69 27*3 p; 
34 m 2475 sh 3T/89 25.77 , 
39.10223/M * 39**10? 2 JT7 » 
26*77 1859 PC 23.72 1? M- pc 
25.77 .11/70 I *79 :7 62 «* 
33*1 24.15 DC 33*91 24.75 ',5 
20.-56 i 31 *8? 22 71 <„i 
22/71 1152 * 22*73 -4*7 ^ 


14 Adds 
picturesque 
details (to) 
isCarujanite 
people 


ia Dive 

IB Belittle, in slang 

22 Indy winner 
Luyendyk 

23 Sidelong look 
2* Encroaches 


it Lowser part o; 
the pistil 


Jotsheom 


28 Arnold and 
ethers 

28 Swinging star 
32 Some bank 
offerings 


33 Blood 
derivatives 

34 Soil combiner 

38 Rent 

39 Middle grade 

40 Inguinal parts 
42 Morrison and 

Tennilie 

44 Vixen’s mats 


ii Swsils 
12 WHd 


is Bloody to the 
max 


40 Goffer 
Norman and 
others 


41 SAT. takers:- 

43 Skirt feature 

44 ed. . auaiii 


49 Had a big 
mouth 


North America 

Kansas City. Mo., through 
Chicago and Dei roil will be 
warm this weekend with 
scattered rains. Monday nil 
be dry and much cooler. 
New York lo Washington, 
D.C.. will have a weekend 
warming trend. Monday will 
be cooler with die chance of 
rain. A new storm will 
approach the West Coast. 


Europe 

Lisbon io London will have 
damp weather this weekend 
with plenty of clouds and 
scattered rams Coaler 
weather and ram wil gradu- 
ally overspread Scandnavia 
laler Sunday into Monday 
Rome through Athens will 
have sunny, warmer weather 
Saturday into early ne*rt 
week. 


Asia 

Beipig through Shanghai will 
be dry and very warm Salur- 
day into early ne*T week. 
Japan wfll be damp and cool 

much ol the weekend 
Sunny, pleasant weather wil 
return Monday. A tropical 
storm east of me Fhifippfties 
may strengthen lo a typhoon 
by the weekend. Honp Kong 
ndnu 


Africa 

Algnn 

24/75 

16/61 

a 

25.T7 

17 67 

& 

Cape Town 

24/75 

13/51 

9 

2*V5 

13*5 


Cjs-ibtanca 

18*64 

17 ISO 


2in) 

121*3 


Harara 

27180 

10*50 


2'**8<j 

11*2 



30*b 

M..-7V 


Jt-W 



MwoH 

21/70 

11*12 

r* 

23-73 

:?5£ 


Tiiu 

32.W- 

10.54 

5 

30/M 

6! 

5 

North America 


4® Mouth witter er 

SO Unsanctioned 
class 

communicators 


Solution to Puzzle of Mav 12 


DOWN 


mm 


wil remain warm and humid. 


17*2 357 pc 1457 5M1 pc 

annixwg 22/71 1355 I 21.70 115a aft 

Teton 9/40 -|/31 s Sue 3«J7 « 

Vance 22/71 1851 ah 23/73 1051 ah 

Vtov* 1054 1253 | 18*6 12*3 pc 

Warwr 19*0 7/44 pc 17*2 7/44 pc 

Zmdi 22/71 1355 *1 21/70 11*2 sh 


Middle East 


Latin America 


Comma 

JanjMtam 


Oceania 


Swftiay 


10*1 1050 
19*0 12*3 


1752 9/48 pe 

20*8 1253 a 


Ryadh 
Legend: »: 


Today 
High Low 
OF OF 
28/5 1559 
27*0 12*3 
22/71 B/46 

21/70 11*2 
38*7 135S 
39/102 22/71 


To 

High Low W 
C*= OF 
28/79 1054 pc 
32*9 (7*2 s 
77*0 1253 pc 
25/77 14/57 1 
30/100 1854 1 
39/102 23/73 9 


Today Tomorrow 

High Low W High Low W 
OF OF OF OF 

Buotxm AJtm 23/73 13*8 ■ 2J/7S 14*7 pc 

Conran 3158 19*6 pc 31/88 1956 pc 

Lra 22/71 17.52 1 22/71 1740 pc 

Me«tooC4y 28/82 1355 I 28*2 1355 T 

RndoJanelro 28/82 19 58 pe IT/BO 19/68 pc 

Sanapa 28/79 10*0 s 24/75 9/48 pc 


Anchorage 

Athrto 

Boston 

CWeego 

Denver 

CMkh 

HonoMu 

itonton 

Loo Angelas 

Uni 


Moraraw 
ttoesMi 
New Tort 


: P c- P arfl l ,e kwlj'. e-<Jawiy. stKahowera. Mhundeisforms. r-raJn. d*now Huntaa, 

1 . Hee. W-Weather. All map*, torresot* end dms provided by Aceu-Weolhor. bic. * 


IBM 


San Fran. 
Soacm 
Tororto 
Washington 


12/53 4 .TP aft I-*3 ;/3S 5C 

27*0 16*1 pc 27/60 17-62 pc 
1854 fi *41 -i 20 C8 T!/K> s 
22/7 f 10*0 9 21-75 :i-52 sh 
24/75 9/40 I 22 ? - 48 DC 

15/66 7*44 •„ 2.V7; 1-..-S2 pc 

28/82 2271 ir* 29.84 v-"l K 

30 166 20-68 c 31/B? 20 C8 c 

2J73 1&-W pc 27-60 1051 pc 

31*8 23/73 7 30-60 23T3 pc 

24/75 13.55 pc 2170 11.52 sh 

9/48 6/43 pc 17 '62 5/43 pc 

29/84 2271 pc 30*5 23/73 pc 

18-64 9 '48 e 25*71 i:.£J s 

35/95 23 73 s 3?."» 3271 1 

20*8 II 52 s 18-84 11*2 pc 

17*2 8-46 c 18*4 7/44 * 

IS *9 0.-43 pc 23 58 9/48 pe 

3371 0'46 0 24/75 13*5 » 


?EU3HE?HI33{3!3 

Bnaoia^.sna^aaGiiin 

BHHEEDnanaejQS-' - 

s^aoaniaigasioaan 

oniL^iaaaaia'^aaaa 

aanoBSsantaaffooaa 

QHHnaaswaaaano 

00E3Q- /QBEia-- Sanaa 

□oner naaaQa.aaa 
□□Haas,. 

□ a a aa □ a hq □ 
□Hoina-tuiaa 

‘aBaaa 


1 Kind ot ring 

2 Giraudoux play 

3 Storm from the 
Pacific 

4 ‘Oklahoma!* 
aunt 

5 Classic cars 
eWail SL initials 

7 Actress Hagen 
a Aviv 


14 Fall behind 

is Baker's offering? 

i» Epidemiolo- 
gist's concern 

20 "That is to 
say ..." 

21 Yards 

2s Passbook abbr. 

28 Archeological 
find 

27 Kind of layer 

2S Phrase after 
‘Cheese it!" 

29 Dracuia, e.g. 

30 Texas town 

31 Dear one 

33 Boaters 


4 


-VjJStV'i; 

> 4£&!3 

V i »■ 

iisf 3 

•w*> : - 

-iV- ^ 

■ 


SC - " 

■ybt**. 





rr ■ 


i c 


vy . 




El 1 . . 

-^•95: 


- 

35.*:.. 

.‘'.••r*:«5*: 

Lr. • 

V. ; . 




f — * 


0-"- 
•Vi - • 


ac.-. 

. : w** : 

-■*. 

•••• 




34 Good for 
growing 


39 Approach 


e With a bow, 
musically 
ia John, at the 
Vatican 


l Puerto 

(Caribbean 

natives) 


37 Erect 



Travel in a world without borders, time zones 

or language barriers. 


ABET Access Numbers. . • 

How to call around the world. 

1 Using the chart below, find the country you are calling from. '! : = : * : '- 

Di.d the corresponding ABET Access Number. 

f or '' 0 '“ prom[ * “ k f" phone number you wish to oU 


To receive your freewallet card of ABETs .Vccess Numbers, iust dial the access numberof : 

tnccountrj vrxi're in and ask for Customer Service. ; 


OJUNTKY ACCESS NUMBER COUNTRY ACCESS NUMBER 


ASIA 


Australia 


Italy 


China. PRO** 


1 - 800 - 881-011 Liechtenstein* 


172-1011 


Gnam 


10811 Lithuania* 


155-00-11 


Hong Kong 


018-872 Luxembourg 


8*196 


BOO-llii 


Indi a# 


000-117 


Indonesia* 


Macedonia, F.YA of 
Malta* 


0-800-0111 


Japan* 


001-801-10 Monaco* 


99-800-4288 

0800-890-110 


Korea 


OO^O-l 1 1 Netherlands* 


194-0011 


Korea** 


°09-11 Norway 


06-022-9111 


11“ 


Malaysia" 


Poland**— 


800-190-11 


800*0011 


New- Zealand 


0*010-480-0111 


OOO-Oli 


Philippines* 


105-11 


Romania 


05017-1-288 


01-800-4288 


taw 


aft-JOg 
sww; 

vvUUVjij 



Imagine a world where you can call country to country as easily as you can from home. And 
reach the US. directly- from over 125 countries. Converse with someone who doesn't speak your 
language, since it's translated instantly. Call your clients at 3 a.m. knowing they'll ger the message in 
your voice at a more polite hour. All this is now possible with ATSD 

To ^ services ' die ATKT Access Number of the country you're in and you’ll get all the 

help you need With these Access Numbers and your AIKT Calling Card international calling has never been easier. 

If you don’t have an AIET Calling Card or you'd like more information on AIST global services. Just , 


convenient Access Numbers on your right. 


call us using the 



COUNTRY 

AGGESSwW’5- 

Bradl 


Chile 


Cotombia 

980-il-^ 


— - — 


t '“^5 

E3 Salvador 1 * 

— : — r/vTta 

Guatemala* 


Guyana*** — 

Honduras** 

— — w 



Nicaragua 

Panamaa 

*• v.JS 

Peru* 

r - 

Suriname 


Urnguav 

V ^ — TfflSSJ 

CARIBBEATV — 

Bahamas ” 

Bermuda* 

nSSTaSSB 


Denmark" 


00-420-00101 


8001-0010 


^wnon (Beirut) 

Qatar 


426-801 



AT&T 


#iwi.wr 



world CO nnuf r 


MOO-1112 





AlLT _ - •/‘■arcwUBir- 


:r.wi hl , Jr f *^ 0, '* ji "‘ l, l*«»wi a nJ6vA J ih, ni - 


VTVK.fl c4ta*f*v.T<fv>f+rT >; 




‘hurt, 


riaioiiu«Hi.i4iri| 


ri'raw only. jxMft jhc red banon.^ wft 
•CaltaH n 





Kiosk 




Freed 



-"•** rc- 


.... . 


-s Vi: 




'* ; -C7 * 



;= --5u rj lr} . 

^ '" r t-.n